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Advance Auto Parts (NYSE:AAP) was upgraded by equities research analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports.

Advance Auto Parts (NYSE:AAP) traded up 1.41% on Monday, hitting $133.33. 676,467 shares of the company’s stock traded hands. Advance Auto Parts has a 1-year low of $78.91 and a 1-year high of $136.12. The stock’s 50-day moving average is $128.4 and its 200-day moving average is $124.8. The company has a market cap of $9.724 billion and a P/E ratio of 21.95.

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 $7.68 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%. The ex-dividend date of this dividend is Wednesday, September 17th.

A number of other analysts have also recently weighed in on AAP. Analysts at Wedbush raised their price target on shares of Advance Auto Parts from $150.00 to $155.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Advance Auto Parts from $143.00 to $145.00 in a research note on Friday. They now have an “overweight” rating on the stock. Finally, analysts at Nomura reiterated a “neutral” rating on shares of Advance Auto Parts in a research note on Friday. They now have a $135.00 price target on the stock, up previously from $125.00. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Buy” and a consensus price target of $138.67.

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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