Advance Auto Parts (NYSE:AAP) Now Covered by BMO Capital Markets

Stock analysts at BMO Capital Markets started coverage on shares of Advance Auto Parts (NYSE:AAP) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage set a “market perform” rating and a $45.00 price target on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 2.60% from the company’s previous close.

Several other analysts have also recently commented on AAP. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. Wells Fargo & Company decreased their target price on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. JPMorgan Chase & Co. reduced their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, UBS Group upped their target price on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $48.40.

Advance Auto Parts Price Performance

Shares of AAP opened at $43.86 on Friday. The firm has a market capitalization of $2.62 billion, a PE ratio of 60.08 and a beta of 1.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The company’s fifty day moving average price is $40.24 and its 200-day moving average price is $50.00. Advance Auto Parts has a 1-year low of $35.59 and a 1-year high of $88.56.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the firm posted ($0.82) EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Advance Auto Parts will post -0.54 EPS for the current year.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Institutional Trading of Advance Auto Parts

A number of institutional investors have recently made changes to their positions in AAP. Sei Investments Co. raised its stake in Advance Auto Parts by 0.5% in the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock valued at $3,779,000 after purchasing an additional 277 shares during the last quarter. Qsemble Capital Management LP lifted its stake in shares of Advance Auto Parts by 7.6% in the second quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock worth $256,000 after buying an additional 285 shares in the last quarter. Everence Capital Management Inc. lifted its stake in shares of Advance Auto Parts by 3.7% in the third quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock worth $325,000 after buying an additional 300 shares in the last quarter. Arizona State Retirement System boosted its position in Advance Auto Parts by 2.0% during the second quarter. Arizona State Retirement System now owns 16,687 shares of the company’s stock worth $1,057,000 after acquiring an additional 334 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Advance Auto Parts by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,127 shares of the company’s stock valued at $831,000 after acquiring an additional 369 shares in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

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.