BTIG Research reaffirmed their sell rating on shares of Advance Auto Parts Inc. (NYSE:AAP) in a research note released on Wednesday morning.

Several other research firms have also commented on AAP. Susquehanna initiated coverage on shares of Advance Auto Parts in a research note on Thursday, August 25th. They set a neutral rating and a $158.00 price objective for the company. Vetr upgraded shares of Advance Auto Parts from a sell rating to a hold rating and set a $150.50 price objective for the company in a research note on Wednesday, June 22nd. Wedbush reiterated an outperform rating and set a $160.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, June 15th. Citigroup Inc. boosted their price objective on shares of Advance Auto Parts from $145.00 to $162.00 and gave the stock a neutral rating in a research note on Wednesday, August 17th. Finally, Credit Suisse Group AG reiterated an outperform rating and set a $171.00 price objective (up previously from $155.00) on shares of Advance Auto Parts in a research note on Thursday, August 18th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. Advance Auto Parts currently has an average rating of Hold and an average price target of $170.08.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

Advance Auto Parts (NYSE:AAP) traded down 0.48% on Wednesday, reaching $148.21. 134,441 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $153.43 and a 200 day moving average price of $157.10. Advance Auto Parts has a 12-month low of $131.59 and a 12-month high of $201.24. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 23.94 and a beta of 1.02.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, August 16th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.12 by $0.22. Advance Auto Parts had a net margin of 4.80% and a return on equity of 21.90%. The business earned $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm posted $2.27 EPS. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts forecast that Advance Auto Parts will post $7.37 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 23rd will be issued a $0.06 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.16%. Advance Auto Parts’s dividend payout ratio (DPR) is 3.88%.

In related news, CEO Thomas Greco acquired 6,250 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were bought at an average price of $159.56 per share, with a total value of $997,250.00. Following the completion of the acquisition, the chief executive officer now owns 42,154 shares in the company, valued at $6,726,092.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reuben E. Slone acquired 632 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were bought at an average cost of $157.99 per share, for a total transaction of $99,849.68. Following the acquisition, the director now owns 1,619 shares of the company’s stock, valued at approximately $255,785.81. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Advance Auto Parts by 31.9% in the second quarter. Van ECK Associates Corp now owns 637 shares of the company’s stock worth $103,000 after buying an additional 154 shares during the last quarter. Kanaly Trust Co boosted its stake in Advance Auto Parts by 65.5% in the second quarter. Kanaly Trust Co now owns 720 shares of the company’s stock worth $116,000 after buying an additional 285 shares during the last quarter. Global X Management Co. LLC boosted its stake in Advance Auto Parts by 92.3% in the second quarter. Global X Management Co. LLC now owns 723 shares of the company’s stock worth $117,000 after buying an additional 347 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Advance Auto Parts by 4.0% in the second quarter. Checchi Capital Advisers LLC now owns 751 shares of the company’s stock worth $121,000 after buying an additional 29 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. boosted its stake in Advance Auto Parts by 159.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,041 shares of the company’s stock worth $168,000 after buying an additional 640 shares during the last quarter. 98.53% of the stock is currently owned by institutional investors.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. 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.

5 Day Chart for NYSE:AAP

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