Citigroup Inc. Lowers Advance Auto Parts Inc (AAP) Price Target to $99.00
Advance Auto Parts Inc (NYSE:AAP) had its target price lowered by Citigroup Inc. to $99.00 in a research report issued on Wednesday, The Fly reports. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s target price points to a potential upside of 13.69% from the stock’s previous close.
Several other equities analysts also recently commented on AAP. Gabelli raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, April 20th. Zacks Investment Research downgraded shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Royal Bank Of Canada dropped their price objective on shares of Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating for the company in a research note on Tuesday, May 2nd. UBS AG reissued a “buy” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advance Auto Parts in a research note on Wednesday, May 17th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Advance Auto Parts in a research note on Wednesday, May 24th. Five analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $144.82.
Advance Auto Parts (NYSE AAP) opened at 87.08 on Wednesday. The company has a market cap of $6.42 billion, a PE ratio of 15.78 and a beta of 0.87. Advance Auto Parts has a 52-week low of $82.21 and a 52-week high of $177.83. The company has a 50-day moving average of $107.28 and a 200 day moving average of $136.42. Advance Auto Parts also was the target of some unusual options trading activity on Monday. Stock investors bought 13,082 call options on the stock. This is an increase of approximately 943% compared to the average daily volume of 1,254 call options.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data 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 company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. Advance Auto Parts’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. Equities research analysts predict that Advance Auto Parts will post $6.33 EPS for the current year.
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In related news, insider Thomas Greco purchased 16,000 shares of Advance Auto Parts stock in a transaction on Friday, May 26th. The stock was acquired at an average cost of $134.63 per share, for a total transaction of $2,154,080.00. Following the completion of the acquisition, the insider now owns 111,030 shares of the company’s stock, valued at approximately $14,947,968.90. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 1,895 shares of Advance Auto Parts stock in a transaction on Friday, May 26th. The stock was bought at an average price of $132.18 per share, with a total value of $250,481.10. Following the completion of the acquisition, the director now directly owns 4,398 shares of the company’s stock, valued at approximately $581,327.64. The disclosure for this purchase can be found here. Insiders have purchased 369,462 shares of company stock valued at $49,617,073 in the last three months. 4.50% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares during the last quarter. Kanaly Trust Co boosted its stake in Advance Auto Parts by 65.5% in the second quarter. Kanaly Trust Co now owns 720 shares of the company’s stock worth $116,000 after buying an additional 285 shares during the last quarter. Global X Management Co. LLC boosted its stake in Advance Auto Parts by 92.3% in the second quarter. Global X Management Co. LLC now owns 723 shares of the company’s stock worth $117,000 after buying an additional 347 shares during the last quarter. Tobam bought a new stake in Advance Auto Parts during the second quarter worth approximately $118,000. Finally, Cornerstone Advisors Inc. boosted its stake in Advance Auto Parts by 7,181.8% in the third quarter. Cornerstone Advisors Inc. now owns 801 shares of the company’s stock worth $119,000 after buying an additional 790 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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