Cleveland Research Upgrades Advance Auto Parts Inc (AAP) to Buy
Advance Auto Parts Inc (NYSE:AAP) was upgraded by equities research analysts at Cleveland Research to a “buy” rating in a report issued on Wednesday.
Other equities analysts have also recently issued research reports about the stock. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Advance Auto Parts in a research note on Thursday, December 8th. Wedbush reiterated an “outperform” rating on shares of Advance Auto Parts in a research note on Tuesday, December 13th. Atlantic Securities assumed coverage on shares of Advance Auto Parts in a research note on Wednesday, December 14th. They issued an “overweight” rating and a $215.00 price target on the stock. Credit Suisse Group reiterated a “buy” rating and issued a $171.00 price target on shares of Advance Auto Parts in a research note on Wednesday, November 23rd. Finally, Zacks Investment Research upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $170.42.
Advance Auto Parts (NYSE:AAP) traded up 1.69% during trading on Wednesday, hitting $172.79. 306,350 shares of the stock traded hands. The company has a market cap of $12.72 billion, a P/E ratio of 28.32 and a beta of 1.13. The firm has a 50-day moving average price of $171.72 and a 200 day moving average price of $159.04. Advance Auto Parts has a 52-week low of $131.59 and a 52-week high of $177.83.
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Advance Auto Parts (NYSE:AAP) last announced its earnings results on Monday, November 14th. The company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.02. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the business posted $1.95 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts expect that Advance Auto Parts will post $7.25 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 23rd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.14%. The ex-dividend date was Wednesday, December 21st. Advance Auto Parts’s dividend payout ratio is 3.94%.
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A number of large investors have recently added to or reduced their stakes in AAP. LS Investment Advisors LLC raised its stake in Advance Auto Parts by 2.4% in the second quarter. LS Investment Advisors LLC now owns 2,683 shares of the company’s stock valued at $434,000 after buying an additional 64 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Advance Auto Parts by 4.0% in the second quarter. Checchi Capital Advisers LLC now owns 751 shares of the company’s stock valued at $121,000 after buying an additional 29 shares in the last quarter. Kanaly Trust Co raised its stake in Advance Auto Parts by 65.5% in the second quarter. Kanaly Trust Co now owns 720 shares of the company’s stock valued at $116,000 after buying an additional 285 shares in the last quarter. Shell Asset Management Co. raised its stake in Advance Auto Parts by 69.0% in the second quarter. Shell Asset Management Co. now owns 6,676 shares of the company’s stock valued at $1,079,000 after buying an additional 2,726 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN purchased a new stake in Advance Auto Parts during the second quarter valued at about $10,089,000. 98.67% of the stock is owned by institutional investors.
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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