Advance Auto Parts (NYSE:AAP) Rating Reiterated by Roth Mkm

Advance Auto Parts (NYSE:AAP)‘s stock had its “neutral” rating reiterated by investment analysts at Roth Mkm in a research report issued on Wednesday, MarketBeat Ratings reports. They presently have a $40.00 target price on the stock. Roth Mkm’s price target would indicate a potential upside of 1.63% from the stock’s previous close.

Several other analysts have also recently weighed in on AAP. Mizuho reissued a “neutral” rating and set a $38.00 price target (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Truist Financial dropped their target price 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. Evercore ISI decreased their price target on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating on the stock in a research note on Friday, August 23rd. Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Tuesday. Finally, TD Cowen decreased 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 research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus price target of $55.36.

Advance Auto Parts Price Performance

NYSE:AAP opened at $39.36 on Wednesday. The company has a market cap of $2.35 billion, a P/E ratio of 57.04, a P/E/G ratio of 1.25 and a beta of 1.16. The firm’s fifty day moving average price is $44.83 and its two-hundred day moving average price is $60.02. Advance Auto Parts has a one year low of $36.40 and a one year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30.

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

Hedge Funds Weigh In On Advance Auto Parts

A number of institutional investors have recently modified their holdings of AAP. CWM LLC grew its position in Advance Auto Parts by 25.7% in the first quarter. CWM LLC now owns 1,739 shares of the company’s stock valued at $148,000 after acquiring an additional 356 shares during the last quarter. First Hawaiian Bank grew its holdings in shares of Advance Auto Parts by 44.0% during the 1st quarter. First Hawaiian Bank now owns 9,673 shares of the company’s stock valued at $823,000 after purchasing an additional 2,957 shares during the last quarter. Radnor Capital Management LLC acquired a new position in Advance Auto Parts during the 1st quarter worth approximately $241,000. Future Financial Wealth Managment LLC bought a new position in Advance Auto Parts in the 1st quarter valued at approximately $43,000. Finally, Hexagon Capital Partners LLC boosted its position in Advance Auto Parts by 267.7% in the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after buying an additional 257 shares in the last quarter. Institutional investors and hedge funds own 88.75% 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.