Weekly Analysts’ Ratings Changes for Advance Auto Parts (AAP)
A number of stock research firms have changed their ratings and price targets for Advance Auto Parts (NYSE: AAP) during the last seven days:
- Advance Auto Parts had its “neutral” rating reaffirmed by analysts at Nomura. They now have a $135.00 price target on the stock, up previously from $125.00.
- Advance Auto Parts had its price target raised by analysts at JPMorgan Chase & Co. from $143.00 to $145.00. They now have an “overweight” rating on the stock.
- Advance Auto Parts had its “outperform” rating reaffirmed by analysts at Credit Suisse. They now have a $160.00 price target on the stock, up previously from $150.00. They wrote, “Merger economics are not for the faint of heart and we expect that we will see some bumps in the road from AAP as they put together GPII and AAP. “Yesterday, we had a relatively smooth ride, with the steps just recently outlined at the analyst meeting moving forward, and no major hiccups to point to. We expect smooth near-term sailing as well, as costs are being reduced, headquarters are being consolidated, and some of the initial parts of the integration are occurring. Given the still relatively low valuation for AAP, that keeps this stock as our favorite in retailing. However, we recognize that the market is a fickle space and we would not be surprised by some less than ideal reports a few quarters out, when perhaps the weather is less cooperative or DIFM takes a bigger chunk out of gross margin. “At this stage, we call those opportunities, because if management stays focused on serving the customer, as they seem to be, we expect the longer term will be quite rewarding. We are raising our target price to $160 (from $150), reflecting 18.5x our updated FY 15 EPS estimate and increasing our 2014, 2015, and 2016 EPS estimates to $7.50, $8.68, and $9.89, respectively.”
- Advance Auto Parts had its price target raised by analysts at RBC Capital from $149.00 to $155.00. They now have a “top pick” rating on the stock.
- Advance Auto Parts had its price target raised by analysts at Raymond James from $150.00 to $155.00. They now have a “strong-buy” rating on the stock.
- Advance Auto Parts had its price target raised by analysts at Wedbush from $150.00 to $155.00. They now have an “outperform” rating on the stock.
- Advance Auto Parts was upgraded by analysts at Wolfe Research from a “market perform” rating to an “outperform” rating.
Shares of Advance Auto Parts, Inc. (NYSE:AAP) traded up 0.84% on Wednesday, hitting $135.14. 383,987 shares of the company’s stock traded hands. Advance Auto Parts, Inc. 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 $125.2. The company has a market cap of $9.856 billion and a P/E ratio of 22.38.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, August 14th. The company reported $2.08 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that Advance Auto Parts, Inc. will post $7.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Wednesday, September 17th.
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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