Advance Auto Parts, Inc. (AAP) Given Outperform Rating at Wedbush
AAP has been the topic of several other reports. Jefferies Group LLC reiterated a hold rating and set a $160.00 price objective (up from $150.00) on shares of Advance Auto Parts in a research report on Friday, November 18th. BTIG Research reiterated a sell rating and issued a $120.00 price objective on shares of Advance Auto Parts in a report on Tuesday, January 24th. Barclays PLC increased their price objective on Advance Auto Parts from $120.00 to $130.00 and gave the stock an underweight rating in a report on Wednesday, February 22nd. Raymond James Financial, Inc. upgraded Advance Auto Parts from a market perform rating to a strong-buy rating and set a $180.00 price objective for the company in a report on Tuesday, November 15th. Finally, Atlantic Securities initiated coverage on Advance Auto Parts in a research note on Wednesday, December 14th. They issued an overweight rating and a $215.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts currently has a consensus rating of Hold and an average target price of $173.08.
Shares of Advance Auto Parts (NYSE:AAP) opened at 152.44 on Wednesday. The company has a market cap of $11.21 billion, a P/E ratio of 24.59 and a beta of 1.10. The stock’s 50 day moving average price is $158.84 and its 200 day moving average price is $158.49. Advance Auto Parts has a 12-month low of $132.98 and a 12-month high of $177.83.
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Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, February 21st. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by $0.09. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2 billion. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. Advance Auto Parts’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. On average, analysts forecast that Advance Auto Parts will post $7.59 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, April 7th. Stockholders of record on Friday, March 24th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. Advance Auto Parts’s dividend payout ratio (DPR) is 3.94%.
In other news, EVP Charles E. Tyson sold 18,944 shares of Advance Auto Parts stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $153.46, for a total value of $2,907,146.24. Following the sale, the executive vice president now directly owns 21,948 shares of the company’s stock, valued at $3,368,140.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Greco bought 6,500 shares of Advance Auto Parts stock in a transaction dated Tuesday, March 7th. The stock was purchased at an average cost of $154.29 per share, for a total transaction of $1,002,885.00. Following the completion of the acquisition, the insider now directly owns 107,936 shares of the company’s stock, valued at approximately $16,653,445.44. The disclosure for this purchase can be found here. Insiders own 4.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Cornerstone Advisors Inc. boosted its stake in shares of Advance Auto Parts by 7,181.8% in the third quarter. Cornerstone Advisors Inc. now owns 801 shares of the company’s stock valued at $119,000 after buying an additional 790 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Advance Auto Parts by 95.6% in the third quarter. Penserra Capital Management LLC now owns 933 shares of the company’s stock valued at $138,000 after buying an additional 456 shares during the period. Van ECK Associates Corp boosted its stake in shares of Advance Auto Parts by 2.7% in the fourth quarter. Van ECK Associates Corp now owns 899 shares of the company’s stock valued at $152,000 after buying an additional 24 shares during the period. Seven Bridges Advisors LLC purchased a new stake in shares of Advance Auto Parts during the third quarter valued at about $153,000. Finally, Creative Planning boosted its stake in shares of Advance Auto Parts by 1.8% in the third quarter. Creative Planning now owns 1,199 shares of the company’s stock valued at $179,000 after buying an additional 21 shares during the period. 98.67% of the stock is currently owned by hedge funds and other 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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