Advance Auto Parts Inc (NYSE:AAP)‘s stock had its “buy” rating reaffirmed by equities research analysts at UBS AG in a research note issued on Monday, August 7th, www.flashratings.com reports. They presently have a $155.00 price target on the stock, down from their previous price target of $170.00. UBS AG’s target price suggests a potential upside of 66.20% from the stock’s previous close.
A number of other equities analysts have also recently commented on the company. Barclays PLC reiterated a “sell” rating and issued a $120.00 target price on shares of Advance Auto Parts in a report on Friday, May 26th. Bank of America Corporation dropped their target price on Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a report on Thursday, May 25th. Royal Bank Of Canada dropped their target price on Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating for the company in a report on Thursday, May 25th. Jefferies Group LLC lifted their target price on Advance Auto Parts to $150.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. Finally, Maxim Group reiterated a “buy” rating on shares of Advance Auto Parts in a report on Thursday, June 29th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $126.68.
Shares of Advance Auto Parts (AAP) traded up 0.44% during mid-day trading on Monday, reaching $93.26. The company’s stock had a trading volume of 3,073,777 shares. The company’s 50-day moving average price is $105.08 and its 200-day moving average price is $135.28. The stock has a market capitalization of $6.89 billion, a P/E ratio of 18.62 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.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.65 by $0.07. The firm had revenue of $2.26 billion for 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 business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. On average, equities research analysts forecast that Advance Auto Parts will post $5.26 earnings per share for the current fiscal year.
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In other news, insider Thomas Greco purchased 16,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were acquired at an average price of $134.63 per share, for a total transaction of $2,154,080.00. Following the purchase, the insider now owns 111,030 shares in the company, valued at $14,947,968.90. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey C. Smith purchased 350,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $134.29 per share, for a total transaction of $47,001,500.00. Following the purchase, the director now owns 1,273 shares in the company, valued at approximately $170,951.17. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 369,462 shares of company stock worth $49,617,073. Company insiders own 4.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AAP. BlackRock Inc. increased its stake in Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock valued at $640,524,000 after buying an additional 4,187,042 shares during the last quarter. Lazard Asset Management LLC increased its stake in Advance Auto Parts by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock valued at $464,848,000 after buying an additional 983,616 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Advance Auto Parts by 6,616.2% in the second quarter. Neuberger Berman Group LLC now owns 903,258 shares of the company’s stock worth $105,311,000 after buying an additional 889,809 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of Advance Auto Parts by 279.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,147,414 shares of the company’s stock worth $133,777,000 after buying an additional 845,130 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Advance Auto Parts by 193.0% in the second quarter. Bessemer Group Inc. now owns 1,207,206 shares of the company’s stock worth $140,748,000 after buying an additional 795,132 shares during the last quarter.
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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