Advance Auto Parts Inc. (AAP) Rating Increased to Positive at Susquehanna
Advance Auto Parts Inc. (NYSE:AAP) was upgraded by stock analysts at Susquehanna from a “neutral” rating to a “positive” rating in a research note issued to investors on Tuesday.
Several other brokerages have also recently commented on AAP. Deutsche Bank AG boosted their price objective on shares of Advance Auto Parts from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. RBC Capital Markets reaffirmed an “outperform” rating and set a $174.00 price objective (down previously from $180.00) on shares of Advance Auto Parts in a research note on Thursday, September 8th. Royal Bank Of Canada reduced their price objective on shares of Advance Auto Parts from $180.00 to $174.00 and set an “outperform” rating for the company in a research note on Thursday, September 8th. BTIG Research reiterated a “sell” rating and set a $120.00 target price on shares of Advance Auto Parts in a research report on Wednesday, August 17th. Finally, Citigroup Inc. lifted their target price on shares of Advance Auto Parts from $145.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, August 17th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $164.22.
Advance Auto Parts (NYSE:AAP) opened at 142.90 on Tuesday. The firm has a 50-day moving average of $144.17 and a 200 day moving average of $153.92. The firm has a market capitalization of $10.51 billion, a PE ratio of 23.08 and a beta of 1.04. Advance Auto Parts has a 12 month low of $131.59 and a 12 month high of $172.87.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Monday, November 14th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. The company earned $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Advance Auto Parts had a net margin of 4.80% and a return on equity of 21.90%. Advance Auto Parts’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.95 earnings per share. Equities research analysts forecast that Advance Auto Parts will post $7.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 23rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.17%. Advance Auto Parts’s payout ratio is currently 3.88%.
In related news, Director Jeffrey C. Smith acquired 70,000 shares of Advance Auto Parts stock in a transaction on Friday, September 2nd. The shares were acquired at an average cost of $158.77 per share, with a total value of $11,113,900.00. Following the transaction, the director now owns 1,271 shares in the company, valued at $201,796.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Greco acquired 6,250 shares of Advance Auto Parts stock in a transaction on Tuesday, August 23rd. The shares were bought at an average cost of $159.56 per share, for a total transaction of $997,250.00. Following the completion of the transaction, the chief executive officer now owns 42,154 shares in the company, valued at approximately $6,726,092.24. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning increased its stake in Advance Auto Parts by 0.7% in the second quarter. Creative Planning now owns 1,178 shares of the company’s stock worth $190,000 after buying an additional 8 shares in the last quarter. Cleararc Capital Inc. increased its stake in Advance Auto Parts by 0.9% in the second quarter. Cleararc Capital Inc. now owns 1,795 shares of the company’s stock worth $290,000 after buying an additional 16 shares in the last quarter. Edmp Inc. increased its stake in Advance Auto Parts by 1.1% in the third quarter. Edmp Inc. now owns 1,473 shares of the company’s stock worth $220,000 after buying an additional 16 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in Advance Auto Parts by 0.6% in the second quarter. Johnson Investment Counsel Inc. now owns 3,478 shares of the company’s stock worth $562,000 after buying an additional 20 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased 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 in the last quarter. 99.42% of the stock is currently owned by institutional investors and hedge funds.
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.
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