Advance Auto Parts (NYSE:AAP) Price Target Cut to $180.00 by Analysts at Morgan Stanley

Advance Auto Parts (NYSE:AAP) had its price objective decreased by Morgan Stanley from $185.00 to $180.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the company. Atlantic Securities lowered Advance Auto Parts from an overweight rating to a neutral rating and set a $159.00 price objective for the company. in a research note on Thursday, January 23rd. Wells Fargo & Co lowered their price objective on Advance Auto Parts from $165.00 to $140.00 and set an equal weight rating for the company in a research note on Tuesday. Nomura restated a hold rating and set a $160.00 price objective (down previously from $162.00) on shares of Advance Auto Parts in a research note on Wednesday, November 13th. Wedbush lowered their price objective on Advance Auto Parts to in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered Advance Auto Parts from an overweight rating to a neutral rating and lowered their price objective for the company from $168.00 to $163.00 in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Advance Auto Parts has a consensus rating of Hold and an average price target of $164.33.

Shares of NYSE:AAP traded down $1.08 during mid-day trading on Thursday, hitting $133.59. 1,122,549 shares of the company traded hands, compared to its average volume of 1,025,553. The firm has a market cap of $9.05 billion, a P/E ratio of 21.55, a PEG ratio of 1.34 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.32 and a current ratio of 1.31. Advance Auto Parts has a 52-week low of $129.94 and a 52-week high of $182.56. The firm’s 50 day simple moving average is $146.02 and its 200 day simple moving average is $152.38.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, November 12th. The company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Advance Auto Parts had a return on equity of 15.61% and a net margin of 4.58%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the business posted $1.89 EPS. The company’s revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that Advance Auto Parts will post 7.93 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of AAP. FMR LLC grew its position in shares of Advance Auto Parts by 287.6% in the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock worth $23,708,000 after acquiring an additional 103,160 shares in the last quarter. BlackRock Inc. raised its stake in Advance Auto Parts by 7.2% during the 2nd quarter. BlackRock Inc. now owns 5,326,148 shares of the company’s stock valued at $820,972,000 after acquiring an additional 358,324 shares in the last quarter. Cerebellum GP LLC bought a new stake in Advance Auto Parts during the 3rd quarter valued at $81,000. Pacer Advisors Inc. raised its stake in Advance Auto Parts by 9.9% during the 3rd quarter. Pacer Advisors Inc. now owns 7,406 shares of the company’s stock valued at $1,225,000 after acquiring an additional 668 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in Advance Auto Parts by 3,083.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,496 shares of the company’s stock valued at $247,000 after acquiring an additional 1,449 shares in the last quarter.

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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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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