Wells Fargo & Co Trims Advance Auto Parts (NYSE:AAP) Target Price to $140.00

Advance Auto Parts (NYSE:AAP) had its price target cut by Wells Fargo & Co from $165.00 to $140.00 in a research report report published on Tuesday, AnalystRatings.com reports. They currently have an equal weight rating on the stock.

Several other equities research analysts also recently commented on AAP. Wedbush decreased their target price on shares of Advance Auto Parts to in a research report on Monday, January 13th. JPMorgan Chase & Co. downgraded shares of Advance Auto Parts from an overweight rating to a neutral rating and reduced their price objective for the stock from $168.00 to $163.00 in a research report on Monday, January 13th. Nomura reaffirmed a hold rating and issued a $160.00 price objective (down from $162.00) on shares of Advance Auto Parts in a research report on Wednesday, November 13th. Finally, Atlantic Securities downgraded shares of Advance Auto Parts from an overweight rating to a neutral rating and set a $159.00 price objective for the company. in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $164.33.

NYSE:AAP opened at $133.59 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.31 and a quick ratio of 0.32. The firm has a 50-day moving average of $145.51 and a 200-day moving average of $152.29. The company has a market cap of $9.33 billion, a PE ratio of 17.42, a PEG ratio of 1.38 and a beta of 0.88. Advance Auto Parts has a one year low of $129.94 and a one year high of $182.56.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, November 12th. The company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.30 billion. Advance Auto Parts had a net margin of 4.58% and a return on equity of 15.61%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share. On average, equities research analysts expect that Advance Auto Parts will post 7.93 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Advance Auto Parts by 7.2% during the 2nd quarter. BlackRock Inc. now owns 5,326,148 shares of the company’s stock valued at $820,972,000 after acquiring an additional 358,324 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Advance Auto Parts by 1.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,677,192 shares of the company’s stock valued at $268,619,000 after acquiring an additional 25,585 shares during the period. Allen Investment Management LLC grew its position in shares of Advance Auto Parts by 3.6% during the 4th quarter. Allen Investment Management LLC now owns 1,223,646 shares of the company’s stock valued at $195,979,000 after acquiring an additional 42,318 shares during the period. Champlain Investment Partners LLC grew its position in shares of Advance Auto Parts by 0.4% during the 4th quarter. Champlain Investment Partners LLC now owns 1,154,755 shares of the company’s stock valued at $184,946,000 after acquiring an additional 4,390 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Advance Auto Parts by 52.5% during the 4th quarter. Bank of America Corp DE now owns 1,132,971 shares of the company’s stock valued at $181,457,000 after acquiring an additional 390,256 shares during the period.

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.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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