Advance Auto Parts (NYSE:AAP) PT Lowered to $60.00 at Evercore ISI

Advance Auto Parts (NYSE:AAP) had its target price reduced by Evercore ISI from $64.00 to $60.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 17.42% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Bank of America upped their price target on Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. Mizuho lowered their target price on Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. JPMorgan Chase & Co. lowered their target price on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Wells Fargo & Company reissued a “hold” rating and issued a $60.00 target price on shares of Advance Auto Parts in a report on Tuesday. Finally, Royal Bank of Canada lowered their target price on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.79.

Advance Auto Parts Trading Down 17.5 %

Shares of NYSE:AAP opened at $51.10 on Friday. The company has a market cap of $3.05 billion, a P/E ratio of 74.06, a PEG ratio of 1.20 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 0.29. Advance Auto Parts has a 1 year low of $47.73 and a 1 year high of $88.56. The stock’s fifty day moving average price is $61.21 and its 200-day moving average price is $68.70.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. Sell-side analysts expect that Advance Auto Parts will post 3.7 earnings per share for the current year.

Institutional Trading of Advance Auto Parts

Several institutional investors have recently made changes to their positions in AAP. International Assets Investment Management LLC purchased a new stake in shares of Advance Auto Parts during the fourth quarter worth about $3,363,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Advance Auto Parts by 35.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,917 shares of the company’s stock worth $788,000 after purchasing an additional 3,359 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Advance Auto Parts by 28.8% during the fourth quarter. Handelsbanken Fonder AB now owns 10,300 shares of the company’s stock worth $629,000 after purchasing an additional 2,300 shares in the last quarter. OLD National Bancorp IN purchased a new stake in shares of Advance Auto Parts during the fourth quarter worth about $222,000. Finally, GAMMA Investing LLC purchased a new position in Advance Auto Parts during the 4th quarter valued at approximately $63,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

About Advance Auto Parts

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.