Royal Bank Of Canada Boosts Advance Auto Parts Inc (AAP) Price Target to $109.00

Advance Auto Parts Inc (NYSE:AAP) had its price target lifted by stock analysts at Royal Bank Of Canada from $100.00 to $109.00 in a report issued on Wednesday. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 13.87% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Advance Auto Parts in a research note on Tuesday. Morgan Stanley raised their price objective on Advance Auto Parts from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. BTIG Research restated a “sell” rating and set a $75.00 price objective (down previously from $90.00) on shares of Advance Auto Parts in a research note on Wednesday, October 25th. Zacks Investment Research upgraded Advance Auto Parts from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Advance Auto Parts in a research note on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Advance Auto Parts presently has an average rating of “Hold” and a consensus price target of $116.85.

Shares of Advance Auto Parts (NYSE:AAP) opened at $95.72 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 1.48 and a debt-to-equity ratio of 0.33. Advance Auto Parts has a 12 month low of $78.81 and a 12 month high of $177.83. The stock has a market capitalization of $6,077.41, a PE ratio of 13.92, a PEG ratio of 1.50 and a beta of 0.90.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.18. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. analysts expect that Advance Auto Parts will post 5.15 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Royal Bank Of Canada Boosts Advance Auto Parts Inc (AAP) Price Target to $109.00” was reported by Markets Daily and is the property of of Markets Daily. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.themarketsdaily.com/2017/11/15/royal-bank-of-canada-boosts-advance-auto-parts-inc-aap-price-target-to-109-00.html.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tobam bought a new stake in Advance Auto Parts during the 2nd quarter valued at $118,000. QS Investors LLC raised its stake in Advance Auto Parts by 0.9% during the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after acquiring an additional 9 shares in the last quarter. Huntington National Bank raised its stake in Advance Auto Parts by 37.1% during the 2nd quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after acquiring an additional 283 shares in the last quarter. Global X Management Co. LLC raised its stake in Advance Auto Parts by 14.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after acquiring an additional 139 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Advance Auto Parts by 57.5% during the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock valued at $141,000 after acquiring an additional 441 shares in the last quarter.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

Receive News & Ratings for Advance Auto Parts Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply