Advance Auto Parts, Inc. (NYSE:AAP)‘s stock had its “neutral” rating reissued by investment analysts at Bank of America Corp in a research report issued on Thursday. They presently have a $150.00 price target on the stock, down from their prior price target of $160.00. Bank of America Corp’s price target suggests a potential upside of 13.66% from the company’s current price.

AAP has been the subject of several other reports. Gabelli upgraded Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, April 20th. BTIG Research reiterated a “sell” rating and set a $120.00 price objective on shares of Advance Auto Parts in a research note on Tuesday, March 28th. Zacks Investment Research lowered Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Royal Bank of Canada cut their price objective on Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating for the company in a research note on Tuesday, May 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $185.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, March 15th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $169.21.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

Shares of Advance Auto Parts (NYSE:AAP) traded down 0.79% during mid-day trading on Thursday, reaching $131.97. The company’s stock had a trading volume of 3,933,558 shares. Advance Auto Parts has a 12-month low of $129.40 and a 12-month high of $177.83. The firm’s 50-day moving average price is $143.70 and its 200 day moving average price is $157.53. The firm has a market cap of $9.70 billion, a P/E ratio of 21.29 and a beta of 1.10. Advance Auto Parts also was the target of some unusual options trading on Monday. Stock investors purchased 9,870 put options on the stock. This is an increase of approximately 504% compared to the average daily volume of 1,634 put options.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.94 billion. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $2.51 EPS. On average, analysts expect that Advance Auto Parts will post $7.48 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, June 23rd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio (DPR) is 3.94%.

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In other news, EVP Charles E. Tyson sold 18,944 shares of the stock in a transaction on 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 in the company, valued at $3,368,140.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP William Harrison Carter sold 2,690 shares of the stock in a transaction on Monday, March 20th. The shares were sold at an average price of $152.83, for a total value of $411,112.70. Following the completion of the sale, the senior vice president now owns 17,155 shares in the company, valued at $2,621,798.65. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in shares of Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock valued at $143,000 after buying an additional 67 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock valued at $144,000 after buying an additional 218 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Advance Auto Parts during the first quarter valued at about $148,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Advance Auto Parts during the first quarter valued at about $192,000. Institutional investors and hedge funds 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.

12 Month Chart for NYSE:AAP

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