Advance Auto Parts Inc. (AAP) Given Neutral Rating at Robert W. Baird
Advance Auto Parts Inc. (NYSE:AAP)‘s stock had its “neutral” rating restated by research analysts at Robert W. Baird in a research note issued to investors on Wednesday. They presently have a $175.00 price target on the stock, up from their previous price target of $165.00. Robert W. Baird’s price target would suggest a potential upside of 6.49% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on AAP. Royal Bank Of Canada lifted their price target on shares of Advance Auto Parts from $174.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday. Deutsche Bank AG lifted their price target on shares of Advance Auto Parts from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price target on shares of Advance Auto Parts in a research report on Thursday, August 18th. RBC Capital Markets reiterated 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. Finally, Citigroup Inc. lifted their price target 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 analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $165.44.
Shares of Advance Auto Parts (NYSE:AAP) opened at 164.33 on Wednesday. Advance Auto Parts has a 52-week low of $131.59 and a 52-week high of $172.87. The stock has a market cap of $12.09 billion, a PE ratio of 26.54 and a beta of 1.04. The company’s 50-day moving average is $144.39 and its 200-day moving average is $153.81.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Monday, November 14th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. Advance Auto Parts had a net margin of 4.80% and a return on equity of 21.90%. The firm earned $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the business earned $1.95 earnings per share. Advance Auto Parts’s revenue was down 2.0% compared to the same quarter last year. Equities analysts anticipate that Advance Auto Parts will post $7.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 23rd will be given a $0.06 dividend. The ex-dividend date is Wednesday, December 21st. This represents a $0.24 annualized dividend and a yield of 0.15%. Advance Auto Parts’s dividend payout ratio (DPR) is 3.88%.
In other Advance Auto Parts news, CEO Thomas Greco purchased 6,250 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, August 23rd. The stock was purchased at an average price of $159.56 per share, for a total transaction of $997,250.00. Following the transaction, the chief executive officer now directly owns 42,154 shares in the company, valued at $6,726,092.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Cushing purchased 1,500 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, August 30th. The stock was acquired at an average price of $156.66 per share, with a total value of $234,990.00. Following the transaction, the executive vice president now owns 6,362 shares in the company, valued at $996,670.92. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Soroban Capital Partners LP purchased a new position in shares of Advance Auto Parts during the third quarter valued at about $90,068,000. Valinor Management L.P. purchased a new position in shares of Advance Auto Parts during the third quarter valued at about $88,564,000. Boston Partners purchased a new position in shares of Advance Auto Parts during the third quarter valued at about $82,487,000. Marshall Wace LLP boosted its position in shares of Advance Auto Parts by 119.5% in the second quarter. Marshall Wace LLP now owns 791,126 shares of the company’s stock valued at $127,870,000 after buying an additional 430,709 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in shares of Advance Auto Parts during the third quarter valued at about $55,314,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.
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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