Advance Auto Parts (AAP) PT Lowered to $178.00 at Royal Bank of Canada
Advance Auto Parts (NYSE:AAP) had its price objective reduced by Royal Bank of Canada to $178.00 in a research note issued on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 14.29% from the stock’s previous close.
AAP has been the subject of several other research reports. Zacks Investment Research lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Evercore ISI initiated coverage on shares of Advance Auto Parts in a research report on Wednesday, March 20th. They set an “outperform” rating and a $185.00 price target for the company. Jefferies Financial Group lowered their price target on shares of Advance Auto Parts to $195.00 and set a “buy” rating for the company in a research report on Wednesday, February 20th. Wells Fargo & Co restated a “hold” rating and set a $175.00 price target on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Finally, Credit Suisse Group restated a “buy” rating and set a $195.00 price target on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Buy” and a consensus target price of $190.71.
AAP stock opened at $155.75 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.44. Advance Auto Parts has a 1-year low of $113.61 and a 1-year high of $186.15. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97.
A number of hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC lifted its holdings in Advance Auto Parts by 15.3% in the first quarter. HighTower Advisors LLC now owns 5,367 shares of the company’s stock worth $917,000 after purchasing an additional 712 shares during the period. Moneta Group Investment Advisors LLC acquired a new stake in Advance Auto Parts in the first quarter worth about $245,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Advance Auto Parts by 3.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,562 shares of the company’s stock worth $608,000 after purchasing an additional 131 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Advance Auto Parts by 100.9% in the first quarter. Schonfeld Strategic Advisors LLC now owns 63,784 shares of the company’s stock worth $10,878,000 after purchasing an additional 32,040 shares during the period. Finally, Morgan Stanley lifted its holdings in Advance Auto Parts by 25.3% in the first quarter. Morgan Stanley now owns 337,757 shares of the company’s stock worth $57,599,000 after purchasing an additional 68,262 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.
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.
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