Advance Auto Parts Inc (AAP) Receives “Underweight” Rating from Barclays PLC
Advance Auto Parts Inc (NYSE:AAP)‘s stock had its “underweight” rating reaffirmed by equities research analysts at Barclays PLC in a report released on Wednesday, StockTargetPrices.com reports. They presently have a $9.00 price target on the stock. Barclays PLC’s target price would suggest a potential downside of 89.66% from the stock’s previous close.
AAP has been the subject of several other research reports. Zacks Investment Research downgraded Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Deutsche Bank AG restated a “buy” rating and set a $139.00 price target (down from $164.00) on shares of Advance Auto Parts in a report on Friday, July 21st. Credit Suisse Group restated an “outperform” rating and set a $135.00 price target (down from $150.00) on shares of Advance Auto Parts in a report on Monday, July 17th. Wedbush restated an “outperform” rating on shares of Advance Auto Parts in a report on Thursday, July 6th. Finally, BidaskClub upgraded Advance Auto Parts from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $126.26.
Shares of Advance Auto Parts (NYSE:AAP) traded up 4.117% during midday trading on Wednesday, reaching $90.665. 3,061,083 shares of the company’s stock were exchanged. The stock has a market cap of $6.69 billion, a PE ratio of 16.425 and a beta of 0.87. Advance Auto Parts has a 12 month low of $82.21 and a 12 month high of $177.83. The company’s 50 day moving average is $107.28 and its 200-day moving average is $136.42. Advance Auto Parts also was the recipient of unusually large options trading on Monday. Stock investors bought 13,082 call options on the stock. This is an increase of approximately 943% compared to the typical volume of 1,254 call options.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 EPS. Equities analysts forecast that Advance Auto Parts will post $6.33 EPS for the current fiscal year.
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In other Advance Auto Parts news, insider Thomas Greco purchased 16,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $14,947,968.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Adriana Karaboutis purchased 367 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were acquired at an average price of $135.28 per share, for a total transaction of $49,647.76. Following the completion of the acquisition, the director now directly owns 3,043 shares in the company, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Insiders have acquired a total of 369,462 shares of company stock worth $49,617,073 over the last 90 days. Company insiders own 4.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Verition Fund Management LLC boosted its position in Advance Auto Parts by 2.9% in the second quarter. Verition Fund Management LLC now owns 6,574 shares of the company’s stock worth $766,000 after buying an additional 184 shares during the last quarter. Intellectus Partners LLC boosted its position in Advance Auto Parts by 39.7% in the second quarter. Intellectus Partners LLC now owns 4,260 shares of the company’s stock worth $497,000 after buying an additional 1,210 shares during the last quarter. Security National Bank of SO Dak boosted its position in Advance Auto Parts by 2.2% in the second quarter. Security National Bank of SO Dak now owns 5,052 shares of the company’s stock worth $589,000 after buying an additional 110 shares during the last quarter. Security National Bank of Sioux City Iowa IA boosted its position in Advance Auto Parts by 1.1% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 6,107 shares of the company’s stock worth $712,000 after buying an additional 67 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its position in Advance Auto Parts by 49.1% in the second quarter. Nomura Holdings Inc. now owns 25,322 shares of the company’s stock worth $2,953,000 after buying an additional 8,334 shares during the last quarter.
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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