Royal Bank of Canada Increases Advance Auto Parts (NYSE:AAP) Price Target to $170.00

Advance Auto Parts (NYSE:AAP) had its price objective hoisted by equities researchers at Royal Bank of Canada from $165.00 to $170.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 20.54% from the company’s current price.

A number of other brokerages have also recently commented on AAP. Wells Fargo & Co dropped their target price on Advance Auto Parts from $165.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Morgan Stanley dropped their target price on Advance Auto Parts from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. cut Advance Auto Parts from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $168.00 to $163.00 in a report on Monday, January 13th. Wedbush reiterated an “outperform” rating and issued a $180.00 target price on shares of Advance Auto Parts in a report on Wednesday. Finally, Nomura reiterated a “hold” rating and issued a $160.00 target price (down previously from $162.00) on shares of Advance Auto Parts in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Advance Auto Parts has a consensus rating of “Hold” and a consensus target price of $162.50.

Shares of Advance Auto Parts stock traded down $1.45 on Wednesday, reaching $141.03. The company had a trading volume of 183,255 shares, compared to its average volume of 1,018,579. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.44 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.31 and a quick ratio of 0.32. The firm’s 50-day moving average price is $142.92 and its two-hundred day moving average price is $151.89. Advance Auto Parts has a 1 year low of $129.94 and a 1 year high of $182.56.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, February 18th. The company reported $1.64 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.29. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Advance Auto Parts had a return on equity of 16.40% and a net margin of 5.01%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 EPS. As a group, analysts anticipate that Advance Auto Parts will post 9.01 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. National Pension Service boosted its holdings in Advance Auto Parts by 5,477.7% during the 4th quarter. National Pension Service now owns 123,880 shares of the company’s stock valued at $19,841,000 after acquiring an additional 121,659 shares during the period. Geode Capital Management LLC boosted its holdings in Advance Auto Parts by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,049,402 shares of the company’s stock valued at $167,717,000 after acquiring an additional 6,990 shares during the period. Intact Investment Management Inc. boosted its holdings in Advance Auto Parts by 100.0% during the 4th quarter. Intact Investment Management Inc. now owns 5,200 shares of the company’s stock valued at $833,000 after acquiring an additional 2,600 shares during the period. Alliancebernstein L.P. boosted its holdings in Advance Auto Parts by 51.5% during the 4th quarter. Alliancebernstein L.P. now owns 596,127 shares of the company’s stock valued at $95,476,000 after acquiring an additional 202,568 shares during the period. Finally, Man Group plc boosted its holdings in Advance Auto Parts by 121.7% during the 4th quarter. Man Group plc now owns 35,293 shares of the company’s stock valued at $5,653,000 after acquiring an additional 19,376 shares during the period.

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.

Read More: Are sell-side analysts objective?

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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.