Advance Auto Parts, Inc. (AAP) Upgraded by Gabelli to Buy
Advance Auto Parts, Inc. (NYSE:AAP) was upgraded by investment analysts at Gabelli from a “hold” rating to a “buy” rating in a report released on Thursday, The Fly reports.
AAP has been the subject of several other research reports. BTIG Research restated a “sell” rating and issued a $120.00 price objective on shares of Advance Auto Parts in a report on Tuesday, January 24th. Cleveland Research upgraded Advance Auto Parts from a “neutral” rating to a “buy” rating in a report on Wednesday, January 11th. Wedbush restated an “outperform” rating on shares of Advance Auto Parts in a report on Tuesday, January 3rd. Bank of America Corp cut Advance Auto Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 13th. Finally, Deutsche Bank AG raised their price objective on Advance Auto Parts from $185.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, January 18th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $171.97.
Advance Auto Parts (NYSE:AAP) opened at 142.42 on Thursday. The company has a 50 day moving average price of $148.97 and a 200-day moving average price of $157.49. Advance Auto Parts has a one year low of $132.98 and a one year high of $177.83. The firm has a market capitalization of $10.47 billion, a PE ratio of 22.97 and a beta of 1.10. Advance Auto Parts also was the recipient of unusually large options trading on Monday. Stock traders purchased 5,297 put options on the company. This represents an increase of approximately 678% compared to the typical volume of 681 put options.
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Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, February 21st. The company reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.09. The company earned $2.08 billion during 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 was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. On average, equities analysts predict that Advance Auto Parts will post $7.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 7th. Shareholders of record on Friday, March 24th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 22nd. This represents a $0.24 annualized dividend and a yield of 0.17%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.94%.
In related news, insider Thomas Greco acquired 6,500 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 107,936 shares of the company’s stock, valued at approximately $16,653,445.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP William Harrison Carter sold 2,690 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $152.83, for a total transaction of $411,112.70. Following the sale, the senior vice president now owns 17,155 shares of the company’s stock, valued at $2,621,798.65. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Round Table Services LLC bought a new stake in shares of Advance Auto Parts during the first quarter valued at about $229,000. Rice Hall James & Associates LLC increased its stake in shares of Advance Auto Parts by 2.9% in the first quarter. Rice Hall James & Associates LLC now owns 7,414 shares of the company’s stock valued at $1,099,000 after buying an additional 211 shares during the period. Quantitative Systematic Strategies LLC increased its stake in shares of Advance Auto Parts by 98.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,574 shares of the company’s stock valued at $2,457,000 after buying an additional 8,224 shares during the period. Patten & Patten Inc. TN bought a new stake in shares of Advance Auto Parts during the first quarter valued at about $491,000. Finally, BKD Wealth Advisors LLC bought a new stake in shares of Advance Auto Parts during the first quarter valued at about $299,000. Hedge funds and other institutional investors own 98.67% 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 (Professional) and do-it-yourself (DIY), customers. 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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