Advance Auto Parts Rating Reiterated by Nomura (AAP)
Advance Auto Parts (NYSE:AAP)‘s stock had its “neutral” rating reiterated by research analysts at Nomura in a report released on Friday. They currently have a $135.00 target price on the stock, up from their previous target price of $125.00. Nomura’s target price would suggest a potential upside of 2.59% from the stock’s previous close.
Advance Auto Parts (NYSE:AAP) traded up 0.54% during mid-day trading on Friday, hitting $132.30. The stock had a trading volume of 349,458 shares. Advance Auto Parts has a one year low of $78.91 and a one year high of $136.12. The stock’s 50-day moving average is $128.3 and its 200-day moving average is $124.6. The company has a market cap of $9.641 billion and a P/E ratio of 23.18.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, August 14th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.07. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.32 billion. Analysts expect that Advance Auto Parts will post $7.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 3rd. Shareholders of record on Friday, September 19th 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%.
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 Friday. They now have a $155.00 price target on the stock, up previously from $150.00. Separately, analysts at RBC Capital raised their price target on shares of Advance Auto Parts from $149.00 to $155.00 in a research note on Friday. They now have a “top pick” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Advance Auto Parts from $150.00 to $160.00 in a research note on Friday. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $138.25.
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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