Credit Suisse Increases Advance Auto Parts Price Target to $160.00 (AAP)
Stock analysts at Credit Suisse hoisted their price target on shares of Advance Auto Parts (NYSE:AAP) from $150.00 to $160.00 in a report issued on Friday. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective would indicate a potential upside of 21.59% from the stock’s previous close.
Advance Auto Parts (NYSE:AAP) traded up 0.73% on Friday, hitting $132.545. The stock had a trading volume of 48,709 shares. Advance Auto Parts has a 52 week low of $78.91 and a 52 week 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 $9.658 billion and a P/E ratio of 23.18.
Advance Auto Parts (NYSE:AAP) last announced its earnings results 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 firms have also recently commented on AAP. Analysts at Zacks reiterated an “outperform” rating on shares of Advance Auto Parts in a research note on Thursday, August 7th. They now have a $148.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Advance Auto Parts in a research note on Friday, June 27th. They now have a $143.00 price target on the stock, up previously from $140.00. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of Advance Auto Parts in a research note on Thursday, June 26th. They now have a $150.00 price target on the stock, up previously from $145.00. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $136.83.
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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