Advance Auto Parts Inc. (NYSE:AAP) Given Average Recommendation of “Hold” by Brokerages
Shares of Advance Auto Parts Inc. (NYSE:AAP) have received a consensus rating of “Hold” from the twenty-three analysts that are covering the company. Four equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $164.72.
Several analysts have recently commented on the company. Deutsche Bank AG reissued a “buy” rating on shares of Advance Auto Parts in a research note on Sunday, July 10th. Bank of America Corp. reaffirmed a “buy” rating on shares of Advance Auto Parts in a research report on Tuesday, June 14th. Wedbush reaffirmed an “outperform” rating and set a $160.00 price target on shares of Advance Auto Parts in a research report on Wednesday, June 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price target on shares of Advance Auto Parts in a research report on Thursday, August 18th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $174.00 price target (down from $180.00) on shares of Advance Auto Parts in a research report on Thursday, September 8th.
In other news, Director Jeffrey C. Smith purchased 70,000 shares of the stock in a transaction on Friday, September 2nd. The shares were acquired at an average price of $158.77 per share, for a total transaction of $11,113,900.00. Following the completion of the transaction, the director now directly owns 1,271 shares of the company’s stock, valued at approximately $201,796.67. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Reuben E. Slone purchased 632 shares of the stock in a transaction on Thursday, August 18th. The shares were purchased at an average price of $157.99 per share, for a total transaction of $99,849.68. Following the transaction, the director now directly owns 1,619 shares of the company’s stock, valued at $255,785.81. The disclosure for this purchase can be found here. Corporate insiders own 4.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. increased its stake in Advance Auto Parts by 75.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 633,200 shares of the company’s stock worth $101,527,000 after buying an additional 272,800 shares during the last quarter. Kirr Marbach & Co. LLC IN purchased a new stake in Advance Auto Parts during the second quarter worth $10,089,000. Geode Capital Management LLC increased its stake in Advance Auto Parts by 2.7% in the first quarter. Geode Capital Management LLC now owns 584,656 shares of the company’s stock worth $93,549,000 after buying an additional 15,229 shares during the last quarter. National Pension Service increased its stake in Advance Auto Parts by 4.4% in the first quarter. National Pension Service now owns 46,709 shares of the company’s stock worth $7,489,000 after buying an additional 1,984 shares during the last quarter. Finally, Kennedy Capital Management Inc. increased its stake in Advance Auto Parts by 99.1% in the first quarter. Kennedy Capital Management Inc. now owns 19,906 shares of the company’s stock worth $3,192,000 after buying an additional 9,906 shares during the last quarter. Institutional investors and hedge funds own 98.53% of the company’s stock.
Shares of Advance Auto Parts (NYSE:AAP) traded up 0.24% on Monday, hitting $148.48. The stock had a trading volume of 205,062 shares. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 23.98 and a beta of 1.02. The company has a 50-day moving average of $152.89 and a 200 day moving average of $156.97. Advance Auto Parts has a 52 week low of $131.59 and a 52 week high of $201.24.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, August 16th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.12 by $0.22. The company earned $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Advance Auto Parts had a return on equity of 21.90% and a net margin of 4.80%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $2.27 earnings per share. On average, equities research analysts predict that Advance Auto Parts will post $7.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, September 23rd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.16%. The ex-dividend date was Wednesday, September 21st. Advance Auto Parts’s dividend payout ratio is 3.88%.
About Advance Auto Parts
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.
Receive News & Stock Ratings for Advance Auto Parts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts Inc. and related stocks with our FREE daily email newsletter.