Advance Auto Parts Inc. (AAP) Receives “Hold” Rating from Jefferies Group
Advance Auto Parts Inc. (NYSE:AAP)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Group in a research note issued on Wednesday. They presently have a $150.00 price objective on the stock. Jefferies Group’s price target suggests a potential upside of 4.90% from the stock’s previous close.
A number of other research firms have also commented on AAP. Deutsche Bank AG lifted their target price on shares of Advance Auto Parts from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Royal Bank Of Canada lowered their target price on shares of Advance Auto Parts from $180.00 to $174.00 and set an “outperform” rating for the company in a report on Thursday, September 8th. RBC Capital Markets reaffirmed an “outperform” rating and set a $174.00 target price (down previously from $180.00) on shares of Advance Auto Parts in a report on Thursday, September 8th. BTIG Research reaffirmed a “sell” rating and set a $120.00 target price on shares of Advance Auto Parts in a report on Wednesday, August 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $175.00 target price (up previously from $160.00) on shares of Advance Auto Parts in a report on Wednesday, August 17th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $169.64.
Shares of Advance Auto Parts (NYSE:AAP) opened at 142.99 on Wednesday. The stock has a 50 day moving average price of $150.41 and a 200-day moving average price of $156.17. Advance Auto Parts has a 12-month low of $131.59 and a 12-month high of $201.24. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 23.09 and a beta of 1.02.
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Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, August 16th. The company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.12 by $0.22. The company earned $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Advance Auto Parts had a net margin of 4.80% and a return on equity of 21.90%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.27 EPS. Equities analysts anticipate that Advance Auto Parts will post $7.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Friday, September 23rd were issued 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 was Wednesday, September 21st. Advance Auto Parts’s dividend payout ratio (DPR) is currently 3.88%.
In related news, Director Jeffrey C. Smith acquired 70,000 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was acquired at an average cost of $158.77 per share, with a total value of $11,113,900.00. Following the acquisition, the director now directly owns 1,271 shares in the company, valued at approximately $201,796.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Francis Ferraro acquired 500 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were bought at an average cost of $160.28 per share, with a total value of $80,140.00. Following the completion of the acquisition, the director now owns 2,941 shares in the company, valued at $471,383.48. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.
A number of large investors have recently made changes to their positions in AAP. Creative Planning raised its stake in shares of Advance Auto Parts by 0.7% in the second quarter. Creative Planning now owns 1,178 shares of the company’s stock worth $190,000 after buying an additional 8 shares during the period. Cleararc Capital Inc. raised its stake in shares of Advance Auto Parts by 0.9% in the second quarter. Cleararc Capital Inc. now owns 1,795 shares of the company’s stock worth $290,000 after buying an additional 16 shares during the period. Johnson Investment Counsel Inc. raised its stake in shares of Advance Auto Parts by 0.6% in the second quarter. Johnson Investment Counsel Inc. now owns 3,478 shares of the company’s stock worth $562,000 after buying an additional 20 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of Advance Auto Parts by 4.0% in the second quarter. Checchi Capital Advisers LLC now owns 751 shares of the company’s stock worth $121,000 after buying an additional 29 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Advance Auto Parts by 2.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 1,852 shares of the company’s stock worth $269,000 after buying an additional 38 shares during the period. 98.49% of the stock is owned by institutional investors and hedge funds.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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