Royal Bank Of Canada Boosts Advance Auto Parts (NYSE:AAP) Price Target to $63.00

Advance Auto Parts (NYSE:AAP) had its target price upped by research analysts at Royal Bank Of Canada from $57.00 to $63.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 7.00% from the company’s current price.

A number of other equities research analysts also recently weighed in on AAP. Northcoast Research raised shares of Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating on shares of Advance Auto Parts in a report on Monday, February 9th. Cfra raised Advance Auto Parts to a “hold” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company raised their price target on Advance Auto Parts from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 11th. Three analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.18.

Advance Auto Parts Trading Up 1.1%

Advance Auto Parts stock opened at $58.88 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 1.75. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. The stock has a market cap of $3.53 billion, a P/E ratio of 80.66 and a beta of 1.14. The firm’s fifty day moving average price is $46.01 and its 200-day moving average price is $52.35.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Friday, February 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.45. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the company earned ($10.16) EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. Equities research analysts forecast that Advance Auto Parts will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Advance Auto Parts

A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its position in Advance Auto Parts by 107.2% in the 1st quarter. Royal Bank of Canada now owns 79,558 shares of the company’s stock worth $3,119,000 after purchasing an additional 41,157 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Advance Auto Parts by 327.7% in the first quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock worth $14,230,000 after acquiring an additional 278,066 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Advance Auto Parts by 14.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company’s stock worth $7,096,000 after acquiring an additional 23,018 shares during the period. Yousif Capital Management LLC increased its position in Advance Auto Parts by 1.8% during the second quarter. Yousif Capital Management LLC now owns 26,470 shares of the company’s stock valued at $1,231,000 after acquiring an additional 476 shares during the last quarter. Finally, Freedom Investment Management Inc. bought a new position in Advance Auto Parts in the second quarter valued at about $225,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.