Advance Auto Parts Price Target Raised to $130.00 at Wedbush (AAP)
Stock analysts at Wedbush raised their price objective on shares of Advance Auto Parts (NYSE:AAP) to $130.00 in a report issued on Friday, Analyst Ratings Net reports. Wedbush’s target price would indicate a potential upside of 18.46% from the company’s current price.
Advance Auto Parts (NYSE:AAP) traded up 3.45% on Friday, hitting $113.53. 439,519 shares of the company’s stock traded hands. Advance Auto Parts has a one year low of $71.48 and a one year high of $111.94. The stock’s 50-day moving average is $105.3 and its 200-day moving average is $90.00. The company has a market cap of $8.259 billion and a P/E ratio of 19.86.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.41 by $0.01. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted $1.21 earnings per share. Advance Auto Parts’s revenue was up 4.3% compared to the same quarter last year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital upgraded shares of Advance Auto Parts from an “outperform” rating to a “top pick” rating in a research note to investors on Friday, December 13th. They now have a $131.00 price target on the stock, up previously from $116.00. They noted that the move was a valuation call. Separately, analysts at Jefferies Group initiated coverage on shares of Advance Auto Parts in a research note to investors on Thursday, November 21st. They set an “underperform” rating on the stock. Finally, analysts at FBR & Co. upgraded shares of Advance Auto Parts from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $107.38.
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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