Advance Auto Parts (NYSE:AAP – Get Free Report) had its price objective lowered by TD Cowen from $65.00 to $55.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential upside of 7.63% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Mizuho reduced their price objective on shares of Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating for the company in a research report on Monday, June 10th. Royal Bank of Canada reduced their price objective on shares of Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating for the company in a research report on Thursday, May 30th. Wells Fargo & Company restated a “hold” rating and set a $60.00 price objective on shares of Advance Auto Parts in a research report on Tuesday. Finally, Wedbush restated a “neutral” rating and set a $65.00 price objective on shares of Advance Auto Parts in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.79.
Check Out Our Latest Stock Analysis on Advance Auto Parts
Advance Auto Parts Trading Down 17.5 %
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 for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The business had revenue of $2.68 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. Equities research analysts predict that Advance Auto Parts will post 3.7 EPS for the current fiscal year.
Hedge Funds Weigh In On Advance Auto Parts
Hedge funds have recently added to or reduced their stakes in the business. 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 holdings 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 buying an additional 3,359 shares in the last quarter. Handelsbanken Fonder AB grew its holdings 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 buying 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 stake in shares of Advance Auto Parts during the fourth quarter worth about $63,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
- Five stocks we like better than Advance Auto Parts
- What is the Dow Jones Industrial Average (DJIA)?
- Ross Stores Investors Win Big as Off-Price Retailers Outperform
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Biotech Stock Soars 60% in 2024: Cathie Wood’s Bold Investment
- How to Use the MarketBeat Stock Screener
- Analog Devices Sends Signal to Market: Growth Will Return
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.