Advance Auto Parts Inc (AAP) Upgraded by Barclays PLC to Hold
Advance Auto Parts Inc (NYSE:AAP) was upgraded by investment analysts at Barclays PLC from an “underweight” rating to a “hold” rating in a report issued on Monday.
AAP has been the topic of a number of other reports. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research note on Wednesday, May 24th. Royal Bank Of Canada reduced their target price on Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 6th. Wedbush reissued an “outperform” rating on shares of Advance Auto Parts in a research note on Thursday, July 6th. UBS AG reissued a “buy” rating and set a $170.00 target price (down from $180.00) on shares of Advance Auto Parts in a research note on Thursday, May 25th. Finally, Bank of America Corporation set a $77.00 target price on Advance Auto Parts and gave the company a “sell” rating in a research note on Thursday. Four analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $126.68.
Advance Auto Parts (NYSE AAP) traded up 2.07% during mid-day trading on Monday, reaching $95.19. 1,959,262 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $105.08 and a 200-day moving average of $135.28. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 19.00 and a beta of 0.87. Advance Auto Parts has a one year low of $82.21 and a one year high of $177.83.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 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 return on equity of 14.71% and a net margin of 3.91%. Advance Auto Parts’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. On average, equities research analysts anticipate that Advance Auto Parts will post $5.26 earnings per share for the current year.
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In related news, Director Eugene I. Lee, Jr. bought 1,895 shares of the company’s stock in a transaction on Friday, May 26th. The shares were acquired at an average cost of $132.18 per share, with a total value of $250,481.10. Following the completion of the acquisition, the director now owns 4,398 shares of the company’s stock, valued at approximately $581,327.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Adriana Karaboutis bought 367 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Insiders acquired 369,462 shares of company stock worth $49,617,073 over the last three months. Corporate insiders own 4.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc increased 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 valued at $114,000 after buying an additional 24 shares during the period. Van ECK Associates Corp increased its stake in 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 during the period. Global X Management Co. LLC increased its stake in 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 during the period. Harbour Capital Advisors LLC bought a new stake in Advance Auto Parts during the first quarter valued at approximately $148,000. Finally, Tobam bought a new stake in Advance Auto Parts during the second quarter valued at approximately $118,000.
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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