Advance Auto Parts (NYSE:AAP) Stock Price Expected to Rise, UBS Group Analyst Says

Advance Auto Parts (NYSE:AAP) had its target price raised by stock analysts at UBS Group from $42.00 to $44.00 in a research note issued on Friday, MarketBeat.com reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 16.74% from the stock’s current price.

A number of other research analysts also recently issued reports on AAP. The Goldman Sachs Group reduced their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday. Truist Financial decreased their price objective on shares of 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 Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Wells Fargo & Company dropped their price objective on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and an average price target of $49.14.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $37.69 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. The firm has a 50-day moving average of $39.02 and a 200-day moving average of $54.24. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The company has a market cap of $2.25 billion, a P/E ratio of 51.63, a P/E/G ratio of 1.33 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 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 firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the business posted $1.43 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts forecast that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Institutional Trading of Advance Auto Parts

A number of hedge funds and other institutional investors have recently bought and sold shares of AAP. Price T Rowe Associates Inc. MD grew its position in shares of Advance Auto Parts by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,998,910 shares of the company’s stock valued at $340,268,000 after purchasing an additional 40,669 shares in the last quarter. Pzena Investment Management LLC grew its position in Advance Auto Parts by 140.3% during the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after buying an additional 1,698,155 shares in the last quarter. Capital World Investors increased its stake in Advance Auto Parts by 67.0% in the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after acquiring an additional 615,674 shares during the last quarter. Third Point LLC purchased a new stake in shares of Advance Auto Parts in the 1st quarter valued at about $127,234,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Advance Auto Parts by 76.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after acquiring an additional 547,696 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

About Advance Auto Parts

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.