Advance Auto Parts, Inc. (NYSE:AAP) has been given an average rating of “Hold” by the twenty-four research firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, eight have given 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 $102.61.
Several equities research analysts have recently commented on AAP shares. Citigroup downgraded Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, October 4th. Raymond James Financial reaffirmed a “market perform” rating on shares of Advance Auto Parts in a research report on Wednesday, October 4th. Zacks Investment Research raised Advance Auto Parts from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. BTIG Research reaffirmed a “sell” rating and set a $75.00 target price (down previously from $90.00) on shares of Advance Auto Parts in a research report on Wednesday, October 25th. Finally, Morgan Stanley lifted their target price on Advance Auto Parts from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, November 8th.
A number of hedge funds have recently bought and sold shares of AAP. QS Investors LLC boosted its position in Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after purchasing an additional 9 shares during the last quarter. Federated Investors Inc. PA boosted its position in Advance Auto Parts by 763.0% in the second quarter. Federated Investors Inc. PA now owns 1,398 shares of the company’s stock worth $163,000 after purchasing an additional 1,236 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Advance Auto Parts by 4.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,582 shares of the company’s stock worth $184,000 after purchasing an additional 68 shares during the last quarter. FDx Advisors Inc. purchased a new position in Advance Auto Parts in the third quarter worth $201,000. Finally, Raymond James Trust N.A. boosted its position in Advance Auto Parts by 15.4% in the second quarter. Raymond James Trust N.A. now owns 1,767 shares of the company’s stock worth $206,000 after purchasing an additional 236 shares during the last quarter.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Tuesday, November 14th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.18. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.21 billion. Advance Auto Parts had a return on equity of 13.51% and a net margin of 3.75%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 earnings per share. equities analysts expect that Advance Auto Parts will post 5.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 22nd were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.24 annualized dividend and a yield of 0.21%. Advance Auto Parts’s dividend payout ratio is currently 5.03%.
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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