Advance Auto Parts Inc (AAP) Earns Buy Rating from Deutsche Bank AG
Advance Auto Parts Inc (NYSE:AAP)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank AG in a research note issued on Friday. They presently have a $139.00 target price on the stock, down from their prior target price of $164.00. Deutsche Bank AG’s price target suggests a potential upside of 34.65% from the company’s current price.
A number of other research firms have also recently commented on AAP. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Advance Auto Parts in a report on Wednesday, May 24th. Royal Bank Of Canada lowered their price target on Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating on the stock in a report on Thursday, July 6th. Wedbush reissued an “outperform” rating on shares of Advance Auto Parts in a report on Thursday, July 6th. UBS AG reissued a “buy” rating and issued a $170.00 price target (down from $180.00) on shares of Advance Auto Parts in a report on Thursday, May 25th. Finally, BTIG Research reaffirmed a “sell” rating and issued a $120.00 price objective on shares of Advance Auto Parts in a research note on Tuesday, March 28th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $149.94.
Advance Auto Parts (NYSE:AAP) traded up 1.65% during midday trading on Friday, reaching $104.93. 644,396 shares of the company’s stock traded hands. The stock has a market cap of $7.74 billion, a PE ratio of 19.01 and a beta of 0.88. The stock’s 50 day moving average price is $118.01 and its 200-day moving average price is $144.60. Advance Auto Parts has a one year low of $99.13 and a one year high of $177.83.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Wednesday, May 24th. The company reported $1.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.20 by $0.60. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm earned $2.51 earnings per share. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts predict that Advance Auto Parts will post $6.42 earnings per share for the current year.
In other Advance Auto Parts news, insider Thomas Greco purchased 16,000 shares of the stock in a transaction on Friday, May 26th. The shares were bought at an average price of $134.63 per share, for a total transaction of $2,154,080.00. Following the completion of the transaction, the insider now owns 111,030 shares of the company’s stock, valued at approximately $14,947,968.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Adriana Karaboutis purchased 367 shares of the 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 transaction, 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 have acquired 369,462 shares of company stock worth $49,617,073 in the last quarter. 4.50% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Advance Auto Parts by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,780,206 shares of the company’s stock valued at $1,005,233,000 after buying an additional 212,632 shares during the period. BlackRock Inc. increased its position 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 period. Lazard Asset Management LLC increased its position 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 period. American Century Companies Inc. increased its position in Advance Auto Parts by 19.2% in the first quarter. American Century Companies Inc. now owns 1,589,566 shares of the company’s stock valued at $235,669,000 after buying an additional 255,548 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Advance Auto Parts by 51.2% in the first quarter. Point72 Asset Management L.P. now owns 1,538,878 shares of the company’s stock valued at $228,154,000 after buying an additional 521,078 shares during the period.
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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