Is Advance Auto Parts (NYSE:AAP) Now a Sell? Credit Suisse Downgrades Stock

May 17, 2018 - By Harriett Tippett

Investors sentiment increased to 1.13 in 2017 Q4. Its up 0.13, from 1 in 2017Q3. It increased, as 56 investors sold Advance Auto Parts, Inc. shares while 110 reduced holdings. 55 funds opened positions while 133 raised stakes. 73.12 million shares or 2.40% less from 74.92 million shares in 2017Q3 were reported.

Loomis Sayles Limited Partnership owns 133,086 shares. First Trust Advsrs Lp holds 0.02% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 65,751 shares. Arga Investment Management Ltd Partnership holds 0.28% in Advance Auto Parts, Inc. (NYSE:AAP) or 24,800 shares. Envestnet Asset Management Inc holds 31,832 shares or 0.01% of its portfolio. Stratos Wealth Prtnrs has 95 shares for 0% of their portfolio. Aqr Mgmt Ltd Liability Com owns 3,301 shares. Co Of Virginia Va holds 0.03% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 2,475 shares. Jlb & Assoc holds 0.15% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 6,961 shares. Acr Alpine Capital Research Limited Liability owns 1.33M shares. Ameritas Invest Partners reported 0.01% in Advance Auto Parts, Inc. (NYSE:AAP). Rice Hall James And Assoc Ltd Co has 0.13% invested in Advance Auto Parts, Inc. (NYSE:AAP) for 34,384 shares. Washington-based Freestone Limited Liability has invested 0.02% in Advance Auto Parts, Inc. (NYSE:AAP). Gabelli Funds Lc holds 23,200 shares or 0.01% of its portfolio. 339,032 were reported by Investec Asset Mngmt Limited. Employees Retirement Sys Of Texas holds 1,000 shares.

Since February 23, 2018, it had 1 insider purchase, and 2 selling transactions for $757,901 activity. 342 shares were sold by Finley Tammy M, worth $39,792 on Friday, March 2. Brouillard John C. had sold 1,745 shares worth $202,560 on Friday, February 23.

Advance Auto Parts (NYSE:AAP) Receives a Downgrade

In analysts report issued to clients moments ago, Credit Suisse decreased their rating for shares of Advance Auto Parts (NYSE:AAP) to a “Hold”. Analysts currently have set a $122.0000 PT on the stock. Credit Suisse’s PT means a possible upside of 1.84 % from the last price of the stock.

Advance Auto Parts, Inc. (NYSE:AAP) Ratings Coverage

Among 11 analysts covering Advance Auto Parts (NYSE:AAP), 6 have Buy rating, 0 Sell and 5 Hold. Therefore 55% are positive. Advance Auto Parts has $14000 highest and $108.0 lowest target. $125.80’s average target is 5.02% above currents $119.79 stock price. Advance Auto Parts had 14 analyst reports since December 4, 2017 according to SRatingsIntel. Atlantic Securities upgraded it to “Buy” rating and $14000 target in Tuesday, May 8 report. The firm has “Hold” rating given on Tuesday, January 16 by Stephens. Barclays Capital maintained the stock with “Equal-Weight” rating in Thursday, February 22 report. Credit Suisse downgraded Advance Auto Parts, Inc. (NYSE:AAP) on Thursday, March 1 to “Hold” rating. Guggenheim upgraded it to “Buy” rating and $13100 target in Monday, April 16 report. The firm earned “Neutral” rating on Thursday, February 22 by Robert W. Baird. The rating was maintained by Wedbush on Thursday, February 22 with “Buy”. The firm has “Buy” rating by Credit Suisse given on Friday, April 20. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Outperform” rating by Credit Suisse on Friday, February 23. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Equal-Weight” rating by Stephens on Thursday, February 22.

The stock increased 0.64% or $0.76 during the last trading session, reaching $119.79. About 1.05 million shares traded. Advance Auto Parts, Inc. (NYSE:AAP) has declined 22.19% since May 18, 2017 and is downtrending. It has underperformed by 33.74% the S&P500.

Analysts await Advance Auto Parts, Inc. (NYSE:AAP) to report earnings on May, 22 before the open. They expect $1.98 earnings per share, up 23.75 % or $0.38 from last year’s $1.6 per share. AAP’s profit will be $146.53 million for 15.13 P/E if the $1.98 EPS becomes a reality. After $0.77 actual earnings per share reported by Advance Auto Parts, Inc. for the previous quarter, Wall Street now forecasts 157.14 % EPS growth.

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 has market cap of $8.87 billion. The firm offers batteries and 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 wired, radiators and cooling parts, starters and alternators, and steering and alignment parts. It has a 18.66 P/E ratio. It also offers AC chemicals and accessories, air fresheners, antifreeze and washer fluids, electrical wires and fuses, electronics, hand and specialty tools, lighting products, performance parts, sealants, adhesives and compounds, tire repair accessories, vent shades, mirrors and exterior accessories, washes, waxes and cleaning supplies, and wiper blades, as well as floor mats, seat covers, and interior accessories.

More recent Advance Auto Parts, Inc. (NYSE:AAP) news were published by: Seekingalpha.com which released: “Can Advance Auto Parts Turn Itself Around?” on May 10, 2018. Also Streetinsider.com published the news titled: “Starboard’s 13F Shows New Stake in Newell Rubbermaid (NWL), Increase in Forest City (FCE-A), Macerich (MAC …” on May 15, 2018. Globenewswire.com‘s news article titled: “Consolidated Research: 2018 Summary Expectations for Advance Auto Parts, Old Republic International, MasTec …” with publication date: May 10, 2018 was also an interesting one.

Advance Auto Parts, Inc. (NYSE:AAP) Ratings Chart

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