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Equities research analysts at JPMorgan Chase & Co. raised their price objective on shares of Advance Auto Parts (NYSE:AAP) from $135.00 to $138.00 in a research note issued to investors on Friday, American Banking and Market News reports. JPMorgan Chase & Co.’s price objective suggests a potential upside of 10.40% from the company’s current price.

Shares of Advance Auto Parts (NYSE:AAP) traded up 0.11% during mid-day trading on Friday, hitting $125.00. 1,697,974 shares of the company’s stock traded hands. Advance Auto Parts has a 52-week low of $75.62 and a 52-week high of $127.09. The stock has a 50-day moving average of $113. and a 200-day moving average of $95.70. The company has a market cap of $9.093 billion and a P/E ratio of 22.60.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.94 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.78 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company posted $0.88 earnings per share. Advance Auto Parts’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that Advance Auto Parts will post $7.16 EPS for the current fiscal year.

A number of other firms have also recently commented on AAP. Analysts at Wedbush raised their price target on shares of Advance Auto Parts from $130.00 to $150.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Advance Auto Parts from $125.00 to $145.00 in a research note to investors on Friday. Finally, analysts at UBS AG raised their price target on shares of Advance Auto Parts from $135.00 to $145.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $118.50.

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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