Advance Auto Parts (NYSE:AAP) has been given a $120.00 price objective by investment analysts at Morgan Stanley in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 19.17% from the company’s previous close.
Other analysts have also issued reports about the stock. UBS reiterated a “buy” rating and set a $118.00 target price (down from $155.00) on shares of Advance Auto Parts in a research report on Wednesday, August 16th. Citigroup cut their price target on shares of Advance Auto Parts to $99.00 and set a “neutral” rating for the company in a report on Wednesday, August 16th. Royal Bank of Canada cut their price target on shares of Advance Auto Parts from $125.00 to $102.00 and set a “sector perform” rating for the company in a report on Wednesday, August 16th. Barclays reissued an “equal weight” rating and set a $90.00 price target (down from $93.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. Finally, Gabelli reissued a “buy” rating on shares of Advance Auto Parts in a report on Wednesday, August 16th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $106.32.
Shares of Advance Auto Parts (AAP) traded up $0.50 during trading on Tuesday, hitting $100.70. 1,455,929 shares of the stock traded hands, compared to its average volume of 2,080,000. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.32 and a current ratio of 1.52. Advance Auto Parts has a 1-year low of $78.81 and a 1-year high of $177.50. The firm has a market cap of $7,440.00, a price-to-earnings ratio of 17.95, a P/E/G ratio of 1.81 and a beta of 1.00.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tobam bought a new position in shares of Advance Auto Parts in the second quarter worth about $118,000. QS Investors LLC grew its position in shares of Advance Auto Parts by 0.9% during the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after buying an additional 9 shares during the period. Global X Management Co. LLC grew its position in shares of Advance Auto Parts by 14.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after buying an additional 139 shares during the period. IFP Advisors Inc grew its position in shares of Advance Auto Parts by 57.5% during the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock worth $141,000 after buying an additional 441 shares during the period. Finally, Federated Investors Inc. PA grew its position in shares of Advance Auto Parts by 763.0% during the 2nd quarter. Federated Investors Inc. PA now owns 1,398 shares of the company’s stock worth $163,000 after buying an additional 1,236 shares during the period.
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.
