Advance Auto Parts Price Target Increased to $155.00 by Analysts at Wedbush (AAP)
Investment analysts at Wedbush upped their target price on shares of Advance Auto Parts (NYSE:AAP) from $150.00 to $155.00 in a note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 17.79% from the stock’s previous close.
Shares of Advance Auto Parts (NYSE:AAP) traded down 0.09% during mid-day trading on Friday, hitting $131.47. The stock had a trading volume of 1,352,930 shares. Advance Auto Parts has a 1-year low of $78.91 and a 1-year high of $136.12. The stock’s 50-day moving average is $128.3 and its 200-day moving average is $124.6. The company has a market cap of $9.580 billion and a price-to-earnings ratio of 23.18.
Advance Auto Parts (NYSE:AAP) last released its earnings data on Thursday, August 14th. The company reported $2.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.01 by $0.07. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.32 billion. Analysts expect that Advance Auto Parts will post $7.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 3rd. Investors of record on Friday, September 19th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.18%.
A number of other analysts have also recently weighed in on AAP. Analysts at JPMorgan Chase & Co. raised their price target on shares of Advance Auto Parts from $143.00 to $145.00 in a research note on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Advance Auto Parts in a research note on Friday. They now have a $135.00 price target on the stock, up previously from $125.00. Finally, analysts at Raymond James raised their price target on shares of Advance Auto Parts from $150.00 to $155.00 in a research note on Friday. They now have a “strong-buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $138.67.
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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