UBS Group Increases Advance Auto Parts (NYSE:AAP) Price Target to $72.00

Advance Auto Parts (NYSE:AAPGet Free Report) had its price target boosted by equities research analysts at UBS Group from $68.00 to $72.00 in a report issued on Tuesday. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 1.24% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Mizuho began coverage on Advance Auto Parts in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Evercore ISI dropped their price objective on Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Wedbush reissued a “neutral” rating and set a $70.00 price target on shares of Advance Auto Parts in a research note on Friday. JPMorgan Chase & Co. increased their price target on Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada increased their price target on Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. Based on data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $65.81.

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Advance Auto Parts Stock Performance

Shares of NYSE:AAP traded up $1.55 during midday trading on Tuesday, reaching $71.12. 1,248,641 shares of the company’s stock traded hands, compared to its average volume of 1,682,791. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 96.11, a P/E/G ratio of 1.26 and a beta of 1.20. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. Advance Auto Parts has a one year low of $47.73 and a one year high of $112.57. The stock has a 50 day moving average of $77.32 and a 200 day moving average of $67.57.

Advance Auto Parts (NYSE:AAPGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The business’s revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $2.88 EPS. As a group, equities research analysts anticipate that Advance Auto Parts will post 3.94 EPS for the current fiscal year.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Brent Windom purchased 4,700 shares of Advance Auto Parts stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $853,400. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Advance Auto Parts news, Director Carla Jean Bailo purchased 310 shares of Advance Auto Parts stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the completion of the acquisition, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brent Windom acquired 4,700 shares of Advance Auto Parts stock in a transaction on Wednesday, March 27th. The shares were purchased at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP increased its holdings in Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the period. Principal Securities Inc. purchased a new position in Advance Auto Parts during the 4th quarter worth $27,000. Hexagon Capital Partners LLC increased its holdings in Advance Auto Parts by 267.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after purchasing an additional 257 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Advance Auto Parts during the 1st quarter worth $34,000. Finally, Quarry LP increased its holdings in Advance Auto Parts by 285.7% during the 4th quarter. Quarry LP now owns 702 shares of the company’s stock worth $43,000 after purchasing an additional 520 shares during the period. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Advance Auto Parts Company Profile

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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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