Advance Auto Parts PT Raised to $103.00 (AAP)
RBC Capital increased their price objective on shares of Advance Auto Parts (NYSE:AAP) from $87.00 to $103.00 in a research note issued on Thursday, StockRatingsNetwork.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective would suggest a potential upside of 5.95% from the company’s current price.
Shares of Advance Auto Parts (NYSE:AAP) traded up 1.10% on Thursday, hitting $97.22. The stock had a trading volume of 3,577,604 shares. Advance Auto Parts has a 52 week low of $64.36 and a 52 week high of $88.74. The stock has a 50-day moving average of $81.70 and a 200-day moving average of $81.7. The company has a market cap of $7.090 billion and a price-to-earnings 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 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 $5.54 EPS for the current fiscal year.
A number of other firms have also recently commented on AAP. Analysts at Bank of America Corp. upgraded shares of Advance Auto Parts to a “buy” rating in a research note to investors on Wednesday. Separately, analysts at Wedbush initiated coverage on shares of Advance Auto Parts in a research note to investors on Monday. They set an “underperform” rating and a $70.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Advance Auto Parts in a research note to investors on Monday, September 30th. They now have a $86.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $129.71.
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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