Deutsche Bank AG Lowers Advance Auto Parts, Inc. (AAP) Price Target to $164.00
Advance Auto Parts, Inc. (NYSE:AAP) had its target price lowered by research analysts at Deutsche Bank AG from $192.00 to $164.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the stock. Deutsche Bank AG’s price objective would indicate a potential upside of 22.24% from the company’s current price.
AAP has been the subject of several other research reports. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Advance Auto Parts in a research report on Wednesday. Wedbush reissued an “outperform” rating and issued a $185.00 price target on shares of Advance Auto Parts in a research report on Wednesday, March 15th. Barclays PLC raised their price target on shares of Advance Auto Parts from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Wednesday, February 22nd. BTIG Research reissued a “sell” rating and issued a $120.00 price target on shares of Advance Auto Parts in a research report on Tuesday, March 28th. Finally, Royal Bank of Canada decreased their price target on shares of Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating for the company in a research report on Tuesday, May 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts has a consensus rating of “Hold” and an average target price of $167.56.
Shares of Advance Auto Parts (NYSE:AAP) traded up 1.66% during trading on Thursday, reaching $134.16. 2,250,326 shares of the company were exchanged. Advance Auto Parts has a 1-year low of $129.40 and a 1-year high of $177.83. The stock has a market capitalization of $9.87 billion, a P/E ratio of 21.64 and a beta of 1.10. The firm has a 50-day moving average price of $143.46 and a 200-day moving average price of $157.51.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, May 24th. The company reported $1.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the business earned $2.51 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Equities research analysts predict that Advance Auto Parts will post $6.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 23rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.18%. Advance Auto Parts’s payout ratio is 3.94%.
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In other news, EVP Charles E. Tyson sold 18,944 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were 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 approximately $3,368,140.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William Harrison Carter sold 2,690 shares of the firm’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $152.83, for a total transaction 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.
Large investors have recently made changes to their positions in the stock. IFP Advisors Inc raised 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 worth $114,000 after buying an additional 24 shares during the last quarter. Van ECK Associates Corp raised 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 worth $143,000 after buying an additional 67 shares during the last quarter. Global X Management Co. LLC raised 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 worth $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 approximately $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 approximately $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.
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