Advance Auto Parts (NYSE:AAP) had its price target hoisted by research analysts at Wedbush from $180.00 to $210.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 10.84% from the stock’s previous close.
AAP has been the subject of a number of other reports. Wells Fargo & Company upped their price target on shares of Advance Auto Parts from $165.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 23rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of Advance Auto Parts in a report on Monday, March 15th. They issued a “buy” rating and a $193.00 price objective on the stock. Stephens boosted their price objective on shares of Advance Auto Parts from $175.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, March 26th. Morgan Stanley upped their target price on shares of Advance Auto Parts from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 31st. Finally, The Goldman Sachs Group increased their price objective on shares of Advance Auto Parts from $142.00 to $157.00 and gave the stock a “sell” rating in a research note on Tuesday, February 16th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $167.25.
Shares of NYSE AAP traded up $1.69 during trading on Friday, hitting $189.46. 609,297 shares of the company traded hands, compared to its average volume of 1,011,887. The company has a 50-day moving average price of $178.79 and a 200-day moving average price of $162.23. The company has a quick ratio of 0.45, a current ratio of 1.38 and a debt-to-equity ratio of 0.27. Advance Auto Parts has a 1 year low of $110.96 and a 1 year high of $190.20. The firm has a market capitalization of $12.41 billion, a P/E ratio of 27.54, a P/E/G ratio of 1.31 and a beta of 1.27.
A number of hedge funds have recently added to or reduced their stakes in AAP. FMR LLC lifted its position in Advance Auto Parts by 287.6% in the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock worth $23,708,000 after buying an additional 103,160 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Advance Auto Parts by 4.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,639 shares of the company’s stock valued at $4,089,000 after buying an additional 1,125 shares during the last quarter. Eudaimonia Partners LLC acquired a new stake in Advance Auto Parts in the 3rd quarter worth $478,000. Perpetual Ltd lifted its holdings in Advance Auto Parts by 110.2% during the 3rd quarter. Perpetual Ltd now owns 84,480 shares of the company’s stock valued at $12,968,000 after purchasing an additional 44,295 shares during the last quarter. Finally, Virtu Financial LLC increased its position in Advance Auto Parts by 127.1% in the 3rd quarter. Virtu Financial LLC now owns 4,295 shares of the company’s stock valued at $659,000 after acquiring an additional 2,404 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.
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.
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