Credit Suisse Group Cuts Advance Auto Parts (NYSE:AAP) Price Target to $162.00

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Advance Auto Parts (NYSE:AAP) had its price target lowered by Credit Suisse Group from $195.00 to $162.00 in a research report released on Wednesday morning, The Fly reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Wedbush reissued an outperform rating and issued a $200.00 price objective on shares of Advance Auto Parts in a research report on Thursday, July 11th. Wells Fargo & Co reissued a hold rating and issued a $175.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, May 22nd. Evercore ISI reissued a buy rating on shares of Advance Auto Parts in a research report on Tuesday, August 13th. Guggenheim lowered shares of Advance Auto Parts from a buy rating to a neutral rating in a report on Wednesday. Finally, Northcoast Research reaffirmed a neutral rating on shares of Advance Auto Parts in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of Buy and an average price target of $183.38.

Advance Auto Parts stock opened at $136.59 on Wednesday. Advance Auto Parts has a 52-week low of $130.09 and a 52-week high of $186.15. The firm has a fifty day moving average of $152.35 and a 200-day moving average of $159.88. The firm has a market capitalization of $9.82 billion, a P/E ratio of 18.28, a PEG ratio of 1.49 and a beta of 0.87. The company has a quick ratio of 0.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.76.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.22). Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company earned $1.97 EPS. Advance Auto Parts’s revenue was up .2% on a year-over-year basis. On average, research analysts expect that Advance Auto Parts will post 7.98 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Advance Auto Parts by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,477,868 shares of the company’s stock worth $1,152,638,000 after acquiring an additional 56,160 shares in the last quarter. BlackRock Inc. grew its holdings in Advance Auto Parts by 7.2% during the 2nd quarter. BlackRock Inc. now owns 5,326,148 shares of the company’s stock worth $820,972,000 after acquiring an additional 358,324 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Advance Auto Parts by 16.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,379,461 shares of the company’s stock worth $675,051,000 after acquiring an additional 634,441 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Advance Auto Parts by 125.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,721,715 shares of the company’s stock worth $412,910,000 after acquiring an additional 1,512,581 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Advance Auto Parts by 26.7% during the 1st quarter. American Century Companies Inc. now owns 1,454,058 shares of the company’s stock worth $247,961,000 after acquiring an additional 306,824 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Company Profile

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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