Advance Auto Parts (NYSE:AAP) Stock Price Expected to Rise, Evercore ISI Analyst Says

Advance Auto Parts (NYSE:AAP) had its price target boosted by Evercore ISI from $45.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an in-line rating on the stock.

Several other analysts also recently commented on the stock. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research report on Monday, March 3rd. Royal Bank Of Canada decreased their price target on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Morgan Stanley upped their price objective on Advance Auto Parts from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Friday, May 23rd. Roth Capital set a $50.00 target price on Advance Auto Parts and gave the stock a “neutral” rating in a research report on Wednesday, May 28th. Finally, Bank of America boosted their price target on Advance Auto Parts from $33.00 to $39.00 and gave the stock an “underperform” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.25.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $48.26 on Tuesday. The stock has a 50-day simple moving average of $39.37 and a two-hundred day simple moving average of $41.54. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. Advance Auto Parts has a 52-week low of $28.89 and a 52-week high of $67.03. The firm has a market capitalization of $2.89 billion, a PE ratio of -8.22 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the firm posted $0.67 EPS. The firm’s quarterly revenue was down 24.2% compared to the same quarter last year. Analysts forecast that Advance Auto Parts will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 2.07%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -17.04%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Annandale Capital LLC raised its position in Advance Auto Parts by 46.6% during the fourth quarter. Annandale Capital LLC now owns 109,241 shares of the company’s stock valued at $5,166,000 after purchasing an additional 34,746 shares during the period. Raymond James Financial Inc. purchased a new stake in Advance Auto Parts during the 4th quarter valued at $8,822,000. Commonwealth Equity Services LLC raised its holdings in Advance Auto Parts by 97.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company’s stock valued at $14,453,000 after buying an additional 150,604 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Advance Auto Parts in the fourth quarter worth $34,586,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Advance Auto Parts by 18.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,919 shares of the company’s stock worth $30,735,000 after buying an additional 100,445 shares during the period. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.