Advance Auto Parts Inc. (NYSE:AAP) – Investment analysts at Jefferies Group boosted their FY2016 earnings estimates for Advance Auto Parts in a research note issued on Monday. Jefferies Group analyst B. Jordan now forecasts that the brokerage will post earnings per share of $7.28 for the year, up from their prior estimate of $7.22. Jefferies Group has a “Hold” rating and a $150.00 price objective on the stock.

AAP has been the topic of a number of other research reports. BTIG Research reissued a “sell” rating and issued a $120.00 target price on shares of Advance Auto Parts in a research note on Wednesday, October 19th. RBC Capital Markets reissued an “outperform” rating and issued a $174.00 target price (down previously from $180.00) on shares of Advance Auto Parts in a research note on Thursday, September 8th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $171.00 price target on shares of Advance Auto Parts in a research note on Sunday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of Advance Auto Parts in a research note on Wednesday, October 5th. Finally, Deutsche Bank AG lifted their price target on shares of Advance Auto Parts from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Advance Auto Parts presently has an average rating of “Hold” and a consensus price target of $166.25.

Earnings History and Estimates for Advance Auto Parts (NYSE:AAP)

Shares of Advance Auto Parts (NYSE:AAP) traded up 1.85% during midday trading on Thursday, hitting $166.00. 808,501 shares of the stock traded hands. Advance Auto Parts has a one year low of $131.59 and a one year high of $172.87. The firm has a 50-day moving average price of $144.72 and a 200 day moving average price of $153.88. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 26.81 and a beta of 1.04.

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, beating the consensus estimate of $1.71 by $0.02. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.89%. The company earned $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm posted $1.95 earnings per share. Advance Auto Parts’s revenue for the quarter was down 2.0% on a year-over-year basis.

Hedge funds have recently modified their holdings of the company. Creative Planning raised its stake in shares of 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. raised its stake in shares of 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. raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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 owned by institutional investors.

In related news, Director Jeffrey C. Smith purchased 70,000 shares of Advance Auto Parts stock in a transaction dated Friday, September 2nd. The stock was bought at an average cost of $158.77 per share, with a total value of $11,113,900.00. Following the purchase, the director now owns 1,271 shares in the company, valued at approximately $201,796.67. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Charles E. Tyson purchased 633 shares of Advance Auto Parts stock in a transaction dated Monday, August 29th. The stock was bought at an average cost of $157.75 per share, with a total value of $99,855.75. Following the completion of the purchase, the executive vice president now owns 18,397 shares in the company, valued at approximately $2,902,126.75. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 23rd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Wednesday, December 21st. Advance Auto Parts’s dividend payout ratio is currently 3.94%.

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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