Advance Auto Parts (AAP) Coverage Initiated at Wells Fargo

Equities researchers at Wells Fargo started coverage on shares of Advance Auto Parts (NYSE:AAP) in a note issued to investors on Monday. The brokerage set a “hold” rating and a $110.00 price target on the stock. Wells Fargo’s price target would indicate a potential upside of 4.25% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Stephens restated a “hold” rating and issued a $113.00 price target (up from $58.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Tuesday, January 16th. JPMorgan Chase lifted their target price on shares of Advance Auto Parts from $110.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Robert W. Baird reiterated a “neutral” rating and issued a $125.00 target price (up from $100.00) on shares of Advance Auto Parts in a research note on Thursday, February 22nd. Finally, Credit Suisse Group lifted their target price on shares of Advance Auto Parts from $100.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Hold” and an average price target of $112.98.

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Shares of NYSE:AAP traded up $1.76 during trading on Monday, reaching $105.52. The stock had a trading volume of 1,014,003 shares, compared to its average volume of 1,314,971. Advance Auto Parts has a one year low of $78.81 and a one year high of $151.72. The stock has a market capitalization of $7,675.97, a P/E ratio of 19.65, a P/E/G ratio of 1.25 and a beta of 1.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.36 and a current ratio of 1.56.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.12. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the business earned $1.00 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. research analysts forecast that Advance Auto Parts will post 6.7 EPS for the current year.

In other Advance Auto Parts news, EVP Tammy M. Finley sold 342 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $116.35, for a total transaction of $39,791.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Greco purchased 8,640 shares of Advance Auto Parts stock in a transaction on Wednesday, March 21st. The shares were acquired at an average cost of $115.77 per share, with a total value of $1,000,252.80. Following the completion of the transaction, the insider now directly owns 135,081 shares in the company, valued at approximately $15,638,327.37. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.

Several large investors have recently bought and sold shares of AAP. JPMorgan Chase & Co. increased its holdings in shares of Advance Auto Parts by 78.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,024 shares of the company’s stock valued at $4,976,000 after purchasing an additional 21,990 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Advance Auto Parts by 10.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 408,141 shares of the company’s stock valued at $40,489,000 after purchasing an additional 39,315 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Advance Auto Parts by 54.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,242 shares of the company’s stock valued at $322,000 after purchasing an additional 1,144 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Advance Auto Parts by 25.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 204,241 shares of the company’s stock valued at $20,261,000 after acquiring an additional 41,390 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Advance Auto Parts in the 4th quarter valued at $857,000.

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About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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