Advance Auto Parts (NYSE:AAP) Price Target Lowered to $46.00 at Royal Bank of Canada

Advance Auto Parts (NYSE:AAP) had its price objective decreased by Royal Bank of Canada from $52.00 to $46.00 in a research note released on Monday morning, Marketbeat reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research analysts have also commented on the stock. Wells Fargo & Company decreased their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Mizuho reiterated a “neutral” rating and issued a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. 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 research report on Friday, August 16th. TD Cowen cut their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Finally, Evercore ISI cut their price objective on shares of Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.08.

Advance Auto Parts Price Performance

AAP opened at $40.55 on Monday. The company has a fifty day simple moving average of $39.16 and a 200 day simple moving average of $55.07. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 4,055.00, a PEG ratio of 1.24 and a beta of 1.17. Advance Auto Parts has a twelve month low of $35.59 and a twelve month high of $88.56. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share 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 analyst estimates of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. Advance Auto Parts’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 earnings per share. Equities research analysts expect that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds have recently made changes to their positions in AAP. Allspring Global Investments Holdings LLC acquired a new position in shares of Advance Auto Parts in the 1st quarter worth approximately $34,000. Mather Group LLC. increased its position in shares of Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after acquiring an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Advance Auto Parts in the second quarter worth approximately $41,000. Blue Trust Inc. increased its position in shares of Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after acquiring an additional 436 shares in the last quarter. Finally, AM Squared Ltd purchased a new position in shares of Advance Auto Parts in the second quarter worth approximately $63,000. 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.