Morgan Stanley set a $185.00 target price on Advance Auto Parts (NYSE:AAP) in a research report report published on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the stock.

Several other research firms also recently commented on AAP. Zacks Investment Research raised shares of Advance Auto Parts from a hold rating to a buy rating and set a $161.00 price objective on the stock in a report on Wednesday, July 31st. Citigroup reiterated a hold rating and issued a $156.00 target price (down previously from $182.00) on shares of Advance Auto Parts in a research note on Wednesday, August 14th. Evercore ISI reissued a buy rating on shares of Advance Auto Parts in a research report on Tuesday, August 13th. JPMorgan Chase & Co. set a $222.00 price target on shares of Advance Auto Parts and gave the company a buy rating in a research note on Monday, August 12th. Finally, Guggenheim cut shares of Advance Auto Parts from a buy rating to a neutral rating in a research note on Wednesday, August 14th. One 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. The company presently has an average rating of Buy and a consensus price target of $183.38.

NYSE AAP traded up $4.16 on Tuesday, hitting $158.86. 1,144,647 shares of the stock traded hands, compared to its average volume of 1,204,205. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.36 and a current ratio of 1.36. The business’s fifty day moving average is $143.33 and its two-hundred day moving average is $156.89. Advance Auto Parts has a 12 month low of $130.09 and a 12 month high of $186.15. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.60 and a beta of 0.85.

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

A number of institutional investors have recently bought and sold shares of AAP. Weik Capital Management boosted its stake in Advance Auto Parts by 3.5% during the second quarter. Weik Capital Management now owns 2,200 shares of the company’s stock valued at $339,000 after buying an additional 75 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Advance Auto Parts by 1.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,815 shares of the company’s stock valued at $1,504,000 after acquiring an additional 84 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of Advance Auto Parts by 3.2% during the first quarter. Stephens Inc. AR now owns 2,969 shares of the company’s stock worth $506,000 after purchasing an additional 93 shares in the last quarter. BB&T Corp grew its holdings in shares of Advance Auto Parts by 3.4% during the second quarter. BB&T Corp now owns 3,460 shares of the company’s stock worth $533,000 after purchasing an additional 113 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. increased its position in shares of Advance Auto Parts by 4.4% in the first quarter. Piedmont Investment Advisors Inc. now owns 2,733 shares of the company’s stock worth $466,000 after purchasing an additional 115 shares during the last quarter. 98.96% 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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