DA Davidson Reiterates “Neutral” Rating for Advance Auto Parts (NYSE:AAP)

Advance Auto Parts (NYSE:AAP)‘s stock had its “neutral” rating reissued by equities research analysts at DA Davidson in a note issued to investors on Friday,Benzinga reports. They presently have a $45.00 price objective on the stock. DA Davidson’s price objective suggests a potential upside of 19.40% from the company’s previous close.

AAP has been the subject of several other research reports. Evercore ISI lowered their price target on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a report on Tuesday, October 22nd. UBS Group boosted their target price on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. Wedbush reissued an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a report on Friday. Finally, The Goldman Sachs Group reduced their target price on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.14.

Advance Auto Parts Price Performance

NYSE AAP opened at $37.69 on Friday. The company has a market cap of $2.25 billion, a PE ratio of 51.63, a P/E/G ratio of 1.33 and a beta of 1.17. Advance Auto Parts has a 52-week low of $35.59 and a 52-week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The firm’s 50 day moving average price is $39.02 and its 200-day moving average price is $54.24.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 earnings per share. Sell-side analysts forecast that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Institutional Trading of Advance Auto Parts

A number of institutional investors and hedge funds have recently made changes to their positions in AAP. Allspring Global Investments Holdings LLC acquired a new stake in Advance Auto Parts in the 1st quarter valued at $34,000. Mather Group LLC. grew its position in shares of Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after purchasing an additional 596 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Advance Auto Parts during the second quarter worth about $41,000. Blue Trust Inc. raised its position in shares of Advance Auto Parts by 56.7% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares during the last quarter. Finally, AM Squared Ltd purchased a new position in Advance Auto Parts in the 2nd quarter valued at about $63,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

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.