Advance Auto Parts (NYSE:AAP) Price Target Raised to $67.00 at Royal Bank Of Canada

Advance Auto Parts (NYSE:AAP) had its price target increased by equities research analysts at Royal Bank Of Canada from $65.00 to $67.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 20.55% from the stock’s previous close.

A number of other research analysts have also recently issued reports on AAP. Citigroup reiterated a “neutral” rating on shares of Advance Auto Parts in a report on Thursday. Morgan Stanley raised their price target on shares of Advance Auto Parts from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft upgraded Advance Auto Parts to a “buy” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. lowered their price objective on Advance Auto Parts from $64.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.09.

Advance Auto Parts Stock Up 3.8%

Shares of NYSE:AAP traded up $2.06 during trading on Thursday, reaching $55.58. 309,842 shares of the stock were exchanged, compared to its average volume of 1,796,975. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.78 and a quick ratio of 0.85. Advance Auto Parts has a 1-year low of $37.89 and a 1-year high of $65.21. The stock has a fifty day moving average of $57.43 and a two-hundred day moving average of $55.17. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 77.12, a price-to-earnings-growth ratio of 0.87 and a beta of 1.03.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, May 21st. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.38. Advance Auto Parts had a return on equity of 8.95% and a net margin of 0.51%.The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the business earned $0.40 EPS. Advance Auto Parts’s quarterly revenue was up 1.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.100 EPS. Research analysts anticipate that Advance Auto Parts will post 2.94 earnings per share for the current fiscal year.

Institutional Trading of Advance Auto Parts

A number of institutional investors and hedge funds have recently modified their holdings of AAP. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Advance Auto Parts during the second quarter worth $17,247,000. PEAK6 LLC bought a new position in Advance Auto Parts in the 2nd quarter valued at $1,817,000. Capital Square LLC bought a new position in Advance Auto Parts in the 2nd quarter valued at $409,000. Allworth Financial LP purchased a new stake in shares of Advance Auto Parts during the 2nd quarter valued at $25,000. Finally, NFJ Investment Group LLC purchased a new stake in shares of Advance Auto Parts during the 2nd quarter valued at $2,981,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

About Advance Auto Parts

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.