Advance Auto Parts Given New $105.00 Price Target at Barclays (AAP)
Equities researchers at Barclays boosted their target price on shares of Advance Auto Parts (NYSE:AAP) from $75.00 to $105.00 in a research report issued on Thursday, AnalystRatingsNetwork.com reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price objective would suggest a potential upside of 9.19% from the stock’s previous close.
A number of other analysts have also recently weighed in on AAP. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Advance Auto Parts in a research note to investors on Thursday. They now have a $96.00 price target on the stock, up previously from $83.00. Separately, analysts at Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday. They now have a $120.00 price target on the stock, up previously from $70.00. Finally, analysts at RBC Capital raised their price target on shares of Advance Auto Parts from $87.00 to $103.00 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Advance Auto Parts currently has a consensus rating of “Hold” and an average price target of $128.64.
Shares of Advance Auto Parts (NYSE:AAP) traded up 1.60% during mid-day trading on Thursday, hitting $97.70. 2,323,591 shares of the company’s stock traded hands. Advance Auto Parts has a 52-week low of $64.36 and a 52-week high of $99.30. The stock has a 50-day moving average of $81.52 and a 200-day moving average of $82.37. The company has a market cap of $7.125 billion and a P/E ratio of 18.12.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the 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 $5.53 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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