Advance Auto Parts (NYSE:AAP) Trading Up 5% – Should You Buy?

Advance Auto Parts, Inc. (NYSE:AAP) shares were up 5% during trading on Monday . The company traded as high as $38.18 and last traded at $38.08. Approximately 452,015 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,981,576 shares. The stock had previously closed at $36.25.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen dropped their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Roth Mkm restated a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Evercore ISI reduced their target price on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd. Mizuho restated a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Finally, Truist Financial cut their price target on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.92.

Advance Auto Parts Stock Up 1.9 %

The firm’s 50 day simple moving average is $39.70 and its two-hundred day simple moving average is $56.13. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 3,815.00, a PEG ratio of 1.18 and a beta of 1.17. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69.

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

Institutional Trading of Advance Auto Parts

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Advance Auto Parts during the first quarter worth about $34,000. Mather Group LLC. boosted its position in shares of Advance Auto Parts by 1,241.7% during the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after acquiring an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Advance Auto Parts in the second quarter valued at approximately $41,000. Blue Trust Inc. raised its position in Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after purchasing an additional 436 shares in the last quarter. Finally, AM Squared Ltd bought a new stake in Advance Auto Parts during the second quarter worth $63,000. 88.75% of the stock is owned by institutional investors and hedge funds.

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.