Advance Auto Parts Inc. (AAP) Receives “Sell” Rating from BTIG Research
Advance Auto Parts Inc. (NYSE:AAP)‘s stock had its “sell” rating reissued by research analysts at BTIG Research in a note issued to investors on Wednesday. They presently have a $120.00 target price on the stock. BTIG Research’s target price points to a potential downside of 16.08% from the company’s current price.
A number of other research analysts have also issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Advance Auto Parts in a report on Sunday, July 10th. Jefferies Group reaffirmed a “hold” rating and set a $150.00 target price on shares of Advance Auto Parts in a report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 target price on shares of Advance Auto Parts in a report on Thursday, August 18th. Wedbush reaffirmed an “outperform” rating and set a $175.00 target price (up from $160.00) on shares of Advance Auto Parts in a report on Wednesday, August 17th. Finally, Vetr raised Advance Auto Parts from a “sell” rating to a “hold” rating and set a $150.50 target price on the stock in a report on Wednesday, June 22nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $169.64.
Shares of Advance Auto Parts (NYSE:AAP) traded down 0.01% on Wednesday, hitting $142.97. 1,367,163 shares of the stock traded hands. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 23.09 and a beta of 1.02. The company’s 50 day moving average is $150.41 and its 200 day moving average is $156.17. Advance Auto Parts has a one year low of $131.59 and a one year high of $201.24.
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Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data 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. Advance Auto Parts had a net margin of 4.80% and a return on equity of 21.90%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $2.27 earnings per share. Advance Auto Parts’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, equities analysts forecast that Advance Auto Parts will post $7.43 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Friday, September 23rd were given a $0.06 dividend. 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 3.88%.
In related news, EVP Robert B. Cushing purchased 1,500 shares of the stock in a transaction on Tuesday, August 30th. The shares were purchased at an average cost of $156.66 per share, for a total transaction of $234,990.00. Following the completion of the transaction, the executive vice president now directly owns 6,362 shares of the company’s stock, valued at approximately $996,670.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles E. Tyson purchased 633 shares of the stock in a transaction on Monday, August 29th. The stock was bought at an average price of $157.75 per share, for a total transaction of $99,855.75. Following the completion of the transaction, the executive vice president now directly owns 18,397 shares of the company’s stock, valued at $2,902,126.75. The disclosure for this purchase can be found here. 4.50% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Jericho Capital Asset Management L.P. bought a new stake in shares of Advance Auto Parts during the first quarter worth $20,684,000. Sphera Funds Management LTD. boosted its stake in shares of Advance Auto Parts by 29.5% in the first quarter. Sphera Funds Management LTD. now owns 20,136 shares of the company’s stock worth $3,229,000 after buying an additional 4,581 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Advance Auto Parts by 75.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 633,200 shares of the company’s stock worth $101,527,000 after buying an additional 272,800 shares during the period. National Pension Service boosted its stake in shares of Advance Auto Parts by 4.4% in the first quarter. National Pension Service now owns 46,709 shares of the company’s stock worth $7,489,000 after buying an additional 1,984 shares during the period. Finally, Scharf Investments LLC boosted its stake in shares of Advance Auto Parts by 26.1% in the first quarter. Scharf Investments LLC now owns 1,276,805 shares of the company’s stock worth $204,723,000 after buying an additional 264,613 shares during the period. Hedge funds and other institutional investors own 98.49% of the company’s stock.
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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