UBS Group Forecasts Strong Price Appreciation for Advance Auto Parts (NYSE:AAP) Stock

Advance Auto Parts (NYSE:AAP) had its price objective hoisted by equities research analysts at UBS Group from $42.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 14.35% from the company’s previous close.

AAP has been the subject of several other research reports. The Goldman Sachs Group decreased their target price on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday. Truist Financial decreased their price objective on Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Roth Mkm restated a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 16th. Royal Bank of Canada decreased their price target on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday. Finally, Wedbush raised shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price target for the company in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $49.46.

Advance Auto Parts Trading Down 6.6 %

Advance Auto Parts stock traded down $2.72 during mid-day trading on Friday, reaching $38.48. 585,019 shares of the company traded hands, compared to its average volume of 2,029,904. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. Advance Auto Parts has a 52-week low of $35.59 and a 52-week high of $88.56. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 3,848.00, a P/E/G ratio of 1.33 and a beta of 1.17. The firm’s 50 day moving average price is $39.06 and its 200 day moving average price is $54.63.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. Advance Auto Parts’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts anticipate that Advance Auto Parts will post 2.19 earnings per share for the current fiscal year.

Institutional Trading of Advance Auto Parts

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Advance Auto Parts in the first quarter worth approximately $34,000. Oppenheimer & Co. Inc. bought a new stake in shares of Advance Auto Parts in the first quarter worth $292,000. Sei Investments Co. lifted its holdings in Advance Auto Parts by 0.6% in the first quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock valued at $5,055,000 after acquiring an additional 352 shares during the period. US Bancorp DE boosted its position in Advance Auto Parts by 10.3% in the first quarter. US Bancorp DE now owns 12,767 shares of the company’s stock worth $1,086,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at about $207,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.