Advance Auto Parts’ (AAP) Buy Rating Reiterated at Deutsche Bank AG
Advance Auto Parts Inc (NYSE:AAP)‘s stock had its “buy” rating reissued by analysts at Deutsche Bank AG in a report released on Friday. They presently have a $139.00 target price on the stock, down from their previous target price of $164.00. Deutsche Bank AG’s price objective suggests a potential upside of 32.04% from the company’s previous close.
Several other analysts have also recently issued reports on the stock. UBS AG reaffirmed a “buy” rating and set a $170.00 price objective (down previously from $180.00) on shares of Advance Auto Parts in a research note on Thursday, May 25th. Gabelli raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, April 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, May 31st. Credit Suisse Group set a $150.00 price objective on shares of Advance Auto Parts and gave the company a “buy” rating in a research note on Monday, June 26th. Finally, Maxim Group reaffirmed a “buy” rating on shares of Advance Auto Parts in a research note on Thursday, June 29th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $149.94.
Advance Auto Parts (AAP) traded up 1.98% on Friday, hitting $105.27. 1,216,390 shares of the company’s stock traded hands. The stock has a market cap of $7.77 billion, a PE ratio of 19.07 and a beta of 0.88. Advance Auto Parts has a one year low of $99.13 and a one year high of $177.83. The stock has a 50-day moving average of $118.01 and a 200-day moving average of $144.60.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, May 24th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by $0.60. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.51 EPS. On average, equities analysts forecast that Advance Auto Parts will post $6.42 earnings per share for the current fiscal year.
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In related news, insider Thomas Greco acquired 16,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were purchased at an average cost of $134.63 per share, for a total transaction of $2,154,080.00. Following the acquisition, the insider now owns 111,030 shares in the company, valued at approximately $14,947,968.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eugene I. Lee, Jr. acquired 1,895 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was bought at an average price of $132.18 per share, for a total transaction of $250,481.10. Following the completion of the acquisition, the director now owns 4,398 shares in the company, valued at approximately $581,327.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 369,462 shares of company stock worth $49,617,073. Company insiders own 4.50% of the company’s stock.
Several institutional investors have recently modified their holdings of AAP. IFP Advisors Inc raised its position in shares of Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares in the last quarter. Huntington National Bank raised its position in shares of Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after buying an additional 283 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock valued at $143,000 after buying an additional 67 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock valued at $144,000 after buying an additional 218 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in shares of Advance Auto Parts during the first quarter valued at approximately $148,000.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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