Advance Auto Parts Receives Neutral Rating from Zacks (AAP)
Advance Auto Parts (NYSE:AAP)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Monday, StockRatingsNetwork.com reports. They currently have a $86.00 price objective on the stock. Zacks‘ price target indicates a potential upside of 4.80% from the company’s current price.
Zacks‘ analyst wrote, “Advance Auto Parts aims to improve its supply chain by pursuing an aggressive store expansion strategy. In 1H13, the company opened 82 stores. Further, an aggressive share repurchase policy is expected to boost its earnings per share. The company’s earnings increased 18.7% to $1.59 per share in the second quarter, beating the Zacks Consensus Estimate of $1.48 per share. However, an uncertain economic environment, volatile gasoline prices and pricing competition are some challenges the company is facing. As such, we continue to recommend the shares as Neutral and set a target price of $86.00.”
A number of other firms have also recently commented on AAP. Analysts at JPMorgan Chase & Co. raised their price target on shares of Advance Auto Parts (NYSE:AAP) from $94.00 to $95.00 in a research note to investors on Tuesday, August 13th. They now have an “overweight” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Advance Auto Parts (NYSE:AAP) from $75.00 to $82.00 in a research note to investors on Tuesday, August 13th. They now have a “neutral” rating on the stock. Finally, analysts at UBS AG cut their EPS estimates on shares of Advance Auto Parts (NYSE:AAP) in a research note on Friday. They now have a $95.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $124.08.
Advance Auto Parts (NYSE:AAP) traded down 0.15% during mid-day trading on Monday, hitting $81.94. The stock had a trading volume of 262,296 shares. Advance Auto Parts has a 1-year low of $64.36 and a 1-year high of $88.74. The stock has a 50-day moving average of $81.11 and a 200-day moving average of $82.06. The company has a market cap of $5.976 billion and a P/E ratio of 15.47.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, August 8th. The company reported $1.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.48 by $0.11. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $1.34 earnings per share. Advance Auto Parts’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that Advance Auto Parts will post $5.51 EPS for the current fiscal year.
Advance Auto Parts, Inc (NYSE:AAP) is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items primarily operating within the United States.
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