Advance Auto Parts (NYSE:AAP) has been assigned a $120.00 price objective by Morgan Stanley in a research note issued on Tuesday. The firm currently has a “buy” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 17.07% from the company’s current price.

AAP has been the topic of several other reports. BTIG Research restated a “sell” rating and set a $75.00 target price (down from $90.00) on shares of Advance Auto Parts in a report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Advance Auto Parts from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 17th. Jefferies Group restated a “buy” rating and set a $130.00 target price on shares of Advance Auto Parts in a report on Tuesday, September 12th. Citigroup downgraded shares of Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, October 4th. Finally, Bank of America restated an “underperform” rating and set a $87.50 target price on shares of Advance Auto Parts in a report on Tuesday, September 5th. Four equities 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 stock. Advance Auto Parts currently has a consensus rating of “Hold” and a consensus target price of $106.32.

Advance Auto Parts (NYSE AAP) opened at $102.50 on Tuesday. Advance Auto Parts has a one year low of $78.81 and a one year high of $177.50. The firm has a market cap of $7,613.71, a P/E ratio of 18.36, a P/E/G ratio of 1.85 and a beta of 1.00. 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 (NYSE:AAP) last released its quarterly earnings data on Tuesday, November 14th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.18. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm earned $1.73 EPS. Advance Auto Parts’s quarterly revenue was down 3.0% compared to the same quarter last year. analysts forecast that Advance Auto Parts will post 5.22 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Veritable L.P. raised its holdings in shares of Advance Auto Parts by 0.3% in the second quarter. Veritable L.P. now owns 2,008 shares of the company’s stock valued at $234,000 after purchasing an additional 6 shares during the last quarter. QS Investors LLC raised its holdings in shares of Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after purchasing an additional 9 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Advance Auto Parts by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,486 shares of the company’s stock valued at $640,000 after purchasing an additional 14 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Advance Auto Parts by 0.8% in the second quarter. Advisors Asset Management Inc. now owns 5,676 shares of the company’s stock valued at $662,000 after purchasing an additional 47 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its holdings in shares of Advance Auto Parts by 0.3% in the second quarter. State of Tennessee Treasury Department now owns 20,197 shares of the company’s stock valued at $2,355,000 after purchasing an additional 60 shares during the last quarter.

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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.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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