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.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, February 19th. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.03. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Equities research analysts predict that Advance Auto Parts will post 8.11 earnings per share for the current fiscal year.

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.

Recommended Story: Why is a lock-up period needed for an IPO?

The Fly

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.