Advance Auto Parts Stock Rating Reaffirmed by JPMorgan Chase & Co. (AAP)
Advance Auto Parts (NYSE:AAP)‘s stock had its “overweight” rating reiterated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Friday. They currently have a $143.00 price target on the stock, up from their previous price target of $140.00. JPMorgan Chase & Co.’s price objective suggests a potential upside of 9.55% from the stock’s previous close.
Shares of Advance Auto Parts (NYSE:AAP) traded up 1.38% on Friday, hitting $132.33. 225,509 shares of the company’s stock traded hands. Advance Auto Parts has a one year low of $78.91 and a one year high of $133.92. The stock’s 50-day moving average is $125.3 and its 200-day moving average is $120.8. The company has a market cap of $9.643 billion and a P/E ratio of 22.99.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, May 15th. The company reported $2.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.16 by $0.09. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. Analysts expect that Advance Auto Parts will post $7.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 2nd. Investors of record on Wednesday, June 18th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Monday, June 16th.
A number of other analysts have also recently weighed in on AAP. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Advance Auto Parts in a research note on Thursday. They now have a $150.00 price target on the stock, up previously from $145.00. Separately, analysts at Citigroup Inc. initiated coverage on shares of Advance Auto Parts in a research note on Tuesday. They set an “overweight” rating and a $150.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Advance Auto Parts in a research note on Tuesday. They set an “overweight” rating and a $150.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $133.67.
Advance Auto Parts, Inc (NYSE:AAP) is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items primarily operating within the United States.
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