Investment analysts at Goldman Sachs Group started coverage on shares of Advance Auto Parts (NYSE:AAP) in a report issued on Thursday, Marketbeat.com reports. The firm set a “sell” rating and a $151.00 price target on the stock. Goldman Sachs Group’s target price indicates a potential downside of 4.78% from the stock’s previous close.

AAP has been the subject of several other research reports. Wells Fargo & Co reiterated a “hold” rating and issued a $175.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, May 22nd. Royal Bank of Canada cut their price objective on Advance Auto Parts to $178.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. Northcoast Research reiterated a “neutral” rating on shares of Advance Auto Parts in a research report on Thursday, June 27th. ValuEngine upgraded China Southern Airlines from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Finally, Evercore ISI began coverage on Polarityte in a report on Wednesday, March 20th. They issued an “outperform” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $189.33.

NYSE:AAP opened at $158.58 on Thursday. The business has a fifty day simple moving average of $155.26. The stock has a market capitalization of $11.21 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.31. Advance Auto Parts has a 1 year low of $138.67 and a 1 year high of $186.15.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Wednesday, May 22nd. The company reported $2.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.10. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Advance Auto Parts had a return on equity of 15.23% and a net margin of 4.45%. Advance Auto Parts’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 earnings per share. Sell-side analysts anticipate that Advance Auto Parts will post 8.2 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Diversified Trust Co lifted its position in Advance Auto Parts by 35.6% during the second quarter. Diversified Trust Co now owns 2,114 shares of the company’s stock worth $326,000 after buying an additional 555 shares during the period. NN Investment Partners Holdings N.V. lifted its position in Advance Auto Parts by 9.5% during the second quarter. NN Investment Partners Holdings N.V. now owns 10,959 shares of the company’s stock worth $1,690,000 after buying an additional 947 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Advance Auto Parts in the 2nd quarter worth about $426,000. Zions Bancorporation N.A. raised its holdings in shares of Advance Auto Parts by 292.3% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,577 shares of the company’s stock worth $243,000 after purchasing an additional 1,175 shares during the period. Finally, Private Trust Co. NA purchased a new position in shares of Advance Auto Parts in the 2nd quarter worth about $548,000. 98.87% of the stock is currently 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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