Advance Auto Parts Inc (AAP) Receives Consensus Recommendation of “Hold” from Analysts
Advance Auto Parts Inc (NYSE:AAP) has received a consensus recommendation of “Hold” from the twenty-four ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $114.11.
A number of research analysts have recently issued reports on the company. Barclays PLC reiterated an “equal weight” rating and set a $90.00 target price (down previously from $93.00) on shares of Advance Auto Parts in a research report on Wednesday, August 16th. UBS AG reiterated a “buy” rating and set a $118.00 target price (down previously from $155.00) on shares of Advance Auto Parts in a research report on Wednesday, August 16th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, August 15th. Citigroup Inc. decreased their target price on Advance Auto Parts to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 16th. Finally, Bank of America Corporation set a $77.00 target price on Advance Auto Parts and gave the company a “sell” rating in a research report on Thursday, August 17th.
Shares of Advance Auto Parts (NYSE:AAP) traded down 2.66% during trading on Wednesday, reaching $89.40. 1,527,595 shares of the company’s stock traded hands. Advance Auto Parts has a one year low of $82.21 and a one year high of $177.83. The stock has a market cap of $6.60 billion, a P/E ratio of 17.85 and a beta of 0.92. The company has a 50 day moving average price of $96.22 and a 200-day moving average price of $118.96.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.07). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. Advance Auto Parts’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.90 EPS. On average, equities research analysts expect that Advance Auto Parts will post $5.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Advance Auto Parts’s dividend payout ratio is presently 4.80%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in shares of Advance Auto Parts by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 358,722 shares of the company’s stock worth $41,825,000 after acquiring an additional 18,209 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Advance Auto Parts by 78.0% during the 2nd quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock worth $103,155,000 after acquiring an additional 387,673 shares during the period. Tobam purchased a new position in shares of Advance Auto Parts during the 2nd quarter worth $118,000. Marshall Wace North America L.P. purchased a new position in shares of Advance Auto Parts during the 1st quarter worth $2,028,000. Finally, ARGA Investment Management LP raised its holdings in shares of Advance Auto Parts by 89.0% during the 2nd quarter. ARGA Investment Management LP now owns 53,300 shares of the company’s stock worth $6,214,000 after acquiring an additional 25,100 shares during the period.
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About Advance Auto Parts
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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