Advance Auto Parts (NYSE:AAP) Downgraded to Hold at StockNews.com

Advance Auto Parts (NYSE:AAP – Get Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities analysts also recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and set a $219.00 target price on shares of Advance Auto Parts in a report on Thursday, August 25th. UBS Group decreased their price target on shares of Advance Auto Parts from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. Morgan Stanley decreased their price target on shares of Advance Auto Parts from $225.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 25th. Wedbush decreased their price target on shares of Advance Auto Parts from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 24th. Finally, Truist Financial decreased their price target on shares of Advance Auto Parts from $238.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, August 25th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.56.

Advance Auto Parts Stock Down 2.2 {5be0972a10a00bb621c1a18de1a801d58662e556d02921cebb422beac5e5b2fe}

Shares of Advance Auto Parts stock opened at $160.50 on Friday. The company has a market cap of $9.65 billion, a P/E ratio of 18.62, a PEG ratio of 1.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.25 and a current ratio of 1.16. Advance Auto Parts has a one year low of $157.79 and a one year high of $244.55. The firm has a fifty day moving average of $184.74 and a two-hundred day moving average of $193.50.

Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.02). Advance Auto Parts had a net margin of 4.84{5be0972a10a00bb621c1a18de1a801d58662e556d02921cebb422beac5e5b2fe} and a return on equity of 25.99{5be0972a10a00bb621c1a18de1a801d58662e556d02921cebb422beac5e5b2fe}. During the same quarter in the previous year, the company posted $3.40 earnings per share. On average, analysts forecast that Advance Auto Parts will post 13.01 earnings per share for the current year.

Institutional Trading of Advance Auto Parts

A number of hedge funds and other institutional investors have recently made changes to their positions in AAP. Private Trust Co. NA acquired a new position in Advance Auto Parts in the second quarter worth $36,000. Royal London Asset Management Ltd. boosted its holdings in Advance Auto Parts by 7.7{5be0972a10a00bb621c1a18de1a801d58662e556d02921cebb422beac5e5b2fe} in the second quarter. Royal London Asset Management Ltd. now owns 25,497 shares of the company’s stock worth $4,419,000 after purchasing an additional 1,832 shares during the period. Amundi boosted its holdings in Advance Auto Parts by 26.8{5be0972a10a00bb621c1a18de1a801d58662e556d02921cebb422beac5e5b2fe} in the second quarter. Amundi now owns 530,558 shares of the company’s stock worth $93,385,000 after purchasing an additional 112,186 shares during the period. Verition Fund Management LLC boosted its holdings in Advance Auto Parts by 384.0{5be0972a10a00bb621c1a18de1a801d58662e556d02921cebb422beac5e5b2fe} in the second quarter. Verition Fund Management LLC now owns 64,702 shares of the company’s stock worth $11,199,000 after purchasing an additional 51,335 shares during the period. Finally, Prelude Capital Management LLC acquired a new position in Advance Auto Parts in the second quarter worth $296,000. Institutional investors own 99.47{5be0972a10a00bb621c1a18de1a801d58662e556d02921cebb422beac5e5b2fe} of the company’s stock.

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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