Advance Auto Parts, Inc. (NYSE:AAP) has received a consensus recommendation of “Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $190.13.
A number of research firms recently issued reports on AAP. Zacks Investment Research lowered Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Wells Fargo & Co restated a “hold” rating and set a $175.00 target price on shares of Advance Auto Parts in a report on Tuesday, February 19th. Credit Suisse Group reaffirmed a “buy” rating and set a $195.00 price target on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Jefferies Financial Group decreased their target price on Advance Auto Parts to $195.00 and set a “buy” rating for the company in a research report on Wednesday, February 20th. Finally, Evercore ISI began coverage on Advance Auto Parts in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $185.00 target price for the company.
A number of large investors have recently bought and sold shares of the business. Diversified Trust Co increased its holdings in shares of Advance Auto Parts by 4.1% in the fourth quarter. Diversified Trust Co now owns 1,539 shares of the company’s stock worth $242,000 after purchasing an additional 60 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Advance Auto Parts by 0.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,212 shares of the company’s stock worth $3,788,000 after acquiring an additional 66 shares in the last quarter. Contravisory Investment Management Inc. grew its position in Advance Auto Parts by 3.1% in the first quarter. Contravisory Investment Management Inc. now owns 2,468 shares of the company’s stock worth $421,000 after acquiring an additional 74 shares in the last quarter. CIBC Asset Management Inc grew its position in Advance Auto Parts by 0.9% in the fourth quarter. CIBC Asset Management Inc now owns 8,487 shares of the company’s stock worth $1,336,000 after acquiring an additional 75 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in Advance Auto Parts by 4.5% in the first quarter. Trust Co. of Vermont now owns 1,888 shares of the company’s stock worth $322,000 after acquiring an additional 81 shares in the last quarter. 98.81% of the stock is currently owned by institutional investors and hedge funds.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, February 19th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.03. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Advance Auto Parts had a return on equity of 14.64% and a net margin of 4.42%. Advance Auto Parts’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. Equities analysts forecast that Advance Auto Parts will post 8.11 earnings per share for the current year.
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.
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