Cleveland Research Lowers Advance Auto Parts to Neutral (AAP)

By admin | 6 years ago

Advance Auto Parts (NYSE: AAP) was downgraded by equities researchers at Cleveland Research to a “neutral” rating in a report issued on Monday.

Advance Auto Parts traded down 0.89% on Monday, hitting $81.61. Advance Auto Parts has a 1-year low of $49.50 and a 1-year high of $93.08. The company has a market cap of $5.951 billion and a price-to-earnings ratio of 16.11.

Advance Auto Parts last released its earnings data on Thursday, February 16th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.74 by $0.16. Advance Auto Parts’s revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that Advance Auto Parts will post $1.65 earnings per share next quarter.

AAP has been the subject of a number of other recent research reports. Analysts at BB&T (NYSE: BBT) initiated coverage on shares of Advance Auto Parts in a research note to investors on Monday, April 16th. They set a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Advance Auto Parts in a research note to investors on Monday, April 2nd. They now have a $93.00 price target on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Advance Auto Parts from $90.00 to $95.00 in a research note to investors on Tuesday, March 20th. They now have an “equal weight” rating on the stock.

Advance Auto Parts, Inc. is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items primarily operating within the United States.

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