The investment analysts at StockNews.com sent a research note to investors on Thursday in which they introduced themselves and stated that they would now be covering Advance Auto Parts (NYSE: AAP). Customers were encouraged to “buy” the company’s shares on the recommendation of the business.
On February 28, the most recent quarterly earnings report for Advance Auto Parts (NYSE: AAP) was made public and available for viewing.
The company announced that it had earnings per share (EPS) of $2.88 for the quarter, which is 0.47 dollars more than what was expected by the general public, which was $2.41.
The revenue the company brought in for the quarter was $2.47 billion, which is higher than the forecasted revenue of $2.42 billion expected for the company throughout the quarter.
The 4.50% net margin and 28.53% return on equity demonstrate that Advance Auto Parts had a successful performance.
The company’s quarterly profits increased 3.2% over the previous fiscal year.
The company reported a profit of $2.07 per share for the same period the year before when the same period was analyzed.
The projections of financial experts in the automotive aftermarket suggest that Advance Auto Parts will generate a profit of 10.66 cents per share in 2018.
This past Thursday, when the NYSE AAP first opened for trading, the price was $121.77.
Although the current ratio is 1.13 and the quick ratio is 0.21, the debt-to-equity ratio, the current ratio, and the quick ratio all equal 0.21.
The company’s market capitalization is currently estimated to be $7.22 billion, with a price-to-earnings ratio of 1.05, a price-to-earnings-to-growth ratio of 1.05, and a beta value of 1.12.
These three metrics were used to determine market capitalization.
The company’s moving averages for the previous fifty days are currently $145.40, and the moving averages for the previous two hundred days are $156.69.
During the last 52 weeks, the price of Advance Auto Parts has fluctuated between $119.89 and $231.43, with an average price of $231.43 being reached.
In addition, several other analysts have weighed in with their perspectives on the stock, which can be found in the previous sentence.
In a research note published on March 1, DA Davidson announced that the price target they had established for Advance Auto Parts had dropped from $170.00 to $142,000.
Despite the lower price target, DA Davidson did not change their rating for the stock from “neutral” to “buy” or “sell.” In a research report released on Monday, February 13, Roth MKM lowered their price target for Advance Auto Parts from $180.00 to $140.00, changing their rating for the company from “buy” to “neutral.” Both of these changes were made about Advance Auto Parts.
The research note that Barclays published on February 7 contained an announcement that the company would start covering shares of Advance Auto Parts.
They gave the stock an “underweight” rating and anticipated that it would reach a price of $145.00 per share in the future.
The research report on Advance Auto Parts released by Citigroup on March 1 assigned a “neutral” rating to the company’s shares and decreased the price objective for those shares from $159.00 to $153.00. Wells Fargo & Company stated in a research note published on January 5, 2019, that they have an “equal weight” rating on the company’s stock and have decreased their price objective on Advance Auto Parts from $180 to $150.
The research note also indicated that they had lowered their price objective on the company’s stock from $180 to $150.
There is one analyst who has suggested a strong purchase of the stock, four who have recommended buying the stock, four who have suggested buying and holding the stock, and one who has suggested selling the stock.
According to information obtained from Bloomberg.com, the stock has been given a recommendation of “Hold” by most market analysts, and their price objective for the stock is $166.89.
Recent years have seen an uptick in institutional investors and hedge funds moving toward adopting new AAP policies.
Private Advisor Group LLC increased its holdings in Advance Auto Parts by purchasing an additional investment valued at 232,000 dollars over the first three months of 2018.
MetLife Investment Management LLC increased the total number of shares of Advance Auto Parts owned by 21.9% during the first three months of 2018.
After making an additional purchase of 3,046 shares during the most recent quarter of the company’s fiscal year, MetLife Investment Management LLC now has 16,965 shares.
There is a value of $3,511,000 attached to these shares.
The State of Pennsylvania Public School Employees Retirement System increased the amount of Advance Auto Parts stock owned by 5.5% over the first three months of 2018. Following the purchase of 435 additional shares during the most recent fiscal quarter, the State of Pennsylvania Public School Empls Retreat SYS now has 8,343 shares of the company, which have a combined value of $1,727,000.
This brings the total number of shares the pension fund owns to 8,343. Cibc Global Market INC increased its holdings in Advance Auto Parts by 120.6% over the year’s first three months. Cibc Global Market INC purchased an additional 6,338 shares of the company’s stock during the most recent quarter, bringing the total number of shares directly owned by the company to 11,593, with a value of $2,399,000.
Last but not least, during the first three months of 2018, Blair William & Co IL increased the amount of Advance Auto Parts stock owned by 14.4%.
Blair William & Co, IL now has 4,620 shares of the company’s stock following the acquisition of an additional 582 shares during the most recent quarter.
The company’s stock is currently valued at a combined total of $956,000.
The company’s shares are held in institutional ownership for 96.04% of the company.
Aftermarket vehicle components are those that Advance Auto Parts, INC sells and distributes to various customers, including those who perform the installation themselves or hire professionals.
These customers can purchase aftermarket components from Advance Auto Parts, INC The names of the company’s four operational divisions are, in order: Advance Auto Parts/Carquest US, Carquest Canada, Worldpac, and Independents.
Arthur Taubman established the business in the same year, 1929, and its current headquarters can be found in the city of Raleigh, which is located in the state of North Carolina.