UBS Group Issues Positive Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP - Get Free Report) had its price objective increased by UBS Group from $42.00 to $44.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective would suggest a potential upside of 16.77% from the stock's current price.

A number of other equities analysts have also commented on AAP. JPMorgan Chase & Co. cut their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, August 16th. Mizuho reiterated a "neutral" rating and issued a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. The Goldman Sachs Group cut their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating on the stock in a research note on Friday. Royal Bank of Canada cut their target price on shares of Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Monday. Finally, Wedbush upgraded shares of Advance Auto Parts from a "neutral" rating to an "outperform" rating and set a $55.00 target price on the stock in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $49.14.

Advance Auto Parts Trading Down 8.5 %

Shares of NYSE AAP traded down $3.52 during trading on Friday, hitting $37.68. 5,899,046 shares of the company traded hands, compared to its average volume of 2,053,840. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The company has a 50-day moving average price of $39.02 and a 200-day moving average price of $54.37. The firm has a market capitalization of $2.25 billion, a P/E ratio of 3,768.00, a P/E/G ratio of 1.33 and a beta of 1.17. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). The company had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm's quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 earnings per share. On average, equities analysts predict that Advance Auto Parts will post 2.19 EPS for the current year.

Institutional Investors Weigh In On Advance Auto Parts

Several institutional investors have recently modified their holdings of AAP. Diversified Trust Co boosted its stake in Advance Auto Parts by 3.5% during the 2nd quarter. Diversified Trust Co now owns 6,787 shares of the company's stock valued at $430,000 after acquiring an additional 232 shares during the last quarter. OLD National Bancorp IN boosted its stake in Advance Auto Parts by 6.8% during the 2nd quarter. OLD National Bancorp IN now owns 3,697 shares of the company's stock valued at $234,000 after acquiring an additional 237 shares during the last quarter. Covestor Ltd boosted its stake in Advance Auto Parts by 8.5% during the 1st quarter. Covestor Ltd now owns 3,395 shares of the company's stock valued at $289,000 after acquiring an additional 266 shares during the last quarter. Sei Investments Co. boosted its stake in Advance Auto Parts by 0.5% during the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company's stock valued at $3,779,000 after acquiring an additional 277 shares during the last quarter. Finally, Qsemble Capital Management LP boosted its stake in Advance Auto Parts by 7.6% during the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company's stock valued at $256,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.