Advance Auto Parts Inc (AAP) Given Equal Weight Rating at Barclays PLC
Advance Auto Parts Inc (NYSE:AAP)‘s stock had its “equal weight” rating reaffirmed by Barclays PLC in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $90.00 target price on the stock, down from their previous target price of $93.00. Barclays PLC’s price target would suggest a potential downside of 4.83% from the stock’s current price.
A number of other research firms have also issued reports on AAP. Zacks Investment Research lowered Advance Auto Parts from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Citigroup Inc. decreased their target price on Advance Auto Parts from $177.00 to $168.00 and set a “neutral” rating for the company in a report on Tuesday, April 25th. UBS AG reiterated a “buy” rating and issued a $180.00 target price (down from $200.00) on shares of Advance Auto Parts in a report on Wednesday, May 17th. Gabelli upgraded Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Thursday, April 20th. Finally, Royal Bank Of Canada decreased their target price on Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating for the company in a report on Tuesday, May 2nd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Advance Auto Parts currently has an average rating of “Hold” and an average price target of $126.68.
Shares of Advance Auto Parts (NYSE AAP) traded up 2.62% during mid-day trading on Wednesday, reaching $95.70. The company had a trading volume of 1,034,217 shares. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 19.11 and a beta of 0.87. The firm has a 50-day moving average price of $105.08 and a 200-day moving average price of $135.28. Advance Auto Parts has a 1-year low of $82.21 and a 1-year high of $177.83.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted $1.90 earnings per share. Equities analysts expect that Advance Auto Parts will post $5.26 earnings per share for the current year.
In related news, insider Thomas Greco purchased 16,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were purchased at an average price of $134.63 per share, for a total transaction of $2,154,080.00. Following the transaction, the insider now directly owns 111,030 shares of the company’s stock, valued at approximately $14,947,968.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 1,895 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 4,398 shares in the company, valued at $581,327.64. The disclosure for this purchase can be found here. Insiders purchased a total of 369,462 shares of company stock worth $49,617,073 in the last 90 days. 4.50% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of AAP. IFP Advisors Inc boosted 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 during the period. Tobam bought a new position in shares of Advance Auto Parts during the second quarter valued at about $118,000. QS Investors LLC boosted its position in shares of Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after buying an additional 9 shares during the period. Huntington National Bank boosted 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 during the period. Finally, Global X Management Co. LLC boosted its position in shares of Advance Auto Parts by 14.3% in the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after buying an additional 139 shares during the period.
About Advance Auto Parts
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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