Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report) has been assigned an average rating of “Reduce” from the twenty-one ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $84.80.
A number of equities analysts have issued reports on AAP shares. Evercore ISI decreased their price target on Advance Auto Parts from $80.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, September 8th. Wells Fargo & Company cut their price objective on Advance Auto Parts from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, November 13th. Royal Bank of Canada cut their price objective on Advance Auto Parts from $84.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 24th. The Goldman Sachs Group cut their price objective on Advance Auto Parts from $83.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. Finally, Stephens cut their price objective on Advance Auto Parts from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Friday, August 25th.
Check Out Our Latest Stock Analysis on Advance Auto Parts
Insiders Place Their Bets
In other Advance Auto Parts news, Director Eugene I. Lee, Jr. acquired 8,670 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average cost of $57.65 per share, for a total transaction of $499,825.50. Following the completion of the purchase, the director now owns 19,430 shares of the company’s stock, valued at approximately $1,120,139.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.
Hedge Funds Weigh In On Advance Auto Parts
Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC increased its stake in shares of Advance Auto Parts by 290.1% in the second quarter. Headlands Technologies LLC now owns 6,179 shares of the company’s stock worth $434,000 after purchasing an additional 4,595 shares during the period. Personal CFO Solutions LLC increased its stake in shares of Advance Auto Parts by 11.2% in the first quarter. Personal CFO Solutions LLC now owns 3,553 shares of the company’s stock worth $432,000 after purchasing an additional 359 shares during the period. MQS Management LLC bought a new position in Advance Auto Parts during the first quarter valued at about $378,000. Rhumbline Advisers increased its stake in Advance Auto Parts by 4.6% during the first quarter. Rhumbline Advisers now owns 130,033 shares of the company’s stock valued at $15,813,000 after acquiring an additional 5,747 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Advance Auto Parts by 168.0% during the first quarter. Tower Research Capital LLC TRC now owns 3,514 shares of the company’s stock valued at $427,000 after acquiring an additional 2,203 shares during the period. 88.75% of the stock is currently owned by institutional investors.
Advance Auto Parts Stock Performance
Shares of NYSE AAP opened at $51.57 on Thursday. The stock has a fifty day moving average price of $53.31 and a two-hundred day moving average price of $67.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.27 and a current ratio of 1.23. The firm has a market cap of $3.07 billion, a P/E ratio of 16.53, a PEG ratio of 3.07 and a beta of 1.14. Advance Auto Parts has a 1 year low of $47.73 and a 1 year high of $158.22.
Advance Auto Parts (NYSE:AAP – Get Free Report) last issued its quarterly earnings results on Wednesday, November 15th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($2.26). The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.68 billion. Advance Auto Parts had a net margin of 1.65% and a return on equity of 9.40%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.84 earnings per share. Research analysts forecast that Advance Auto Parts will post 1.46 EPS for the current fiscal year.
Advance Auto Parts Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, January 11th. Advance Auto Parts’s payout ratio is 32.05%.
Advance Auto Parts Company Profile
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.
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