Advance Auto Parts Coverage Initiated by Analysts at SunTrust (AAP)
Equities research analysts at SunTrust started coverage on shares of Advance Auto Parts (NYSE:AAP) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Shares of Advance Auto Parts (NYSE:AAP) traded up 1.01% on Wednesday, hitting $137.44. The stock had a trading volume of 556,045 shares. Advance Auto Parts has a one year low of $78.91 and a one year high of $137.53. The stock has a 50-day moving average of $128.9 and a 200-day moving average of $125.9. The company has a market cap of $10.023 billion and a P/E ratio of 22.72.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, August 14th. The company reported $2.08 EPS for the quarter, beating the Thomson Reuters 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 $7.70 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 3rd. Stockholders 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 0.17%. 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 Wolfe Research upgraded shares of Advance Auto Parts from a “market perform” rating to an “outperform” rating in a research note on Monday, August 18th. Separately, 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, August 15th. They now have an “outperform” rating on the stock. Finally, 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, August 15th. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Buy” and an average target price 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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