Advance Auto Parts Inc. (NYSE:AAP)‘s stock had its “outperform” rating reiterated by stock analysts at RBC Capital Markets in a research note issued on Tuesday. They presently have a $175.00 price objective on the stock, up from their prior price objective of $174.00. RBC Capital Markets’ price objective indicates a potential upside of 7.38% from the stock’s previous close.

Several other analysts also recently weighed in on AAP. Royal Bank Of Canada upped their price target on Advance Auto Parts from $174.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday. Deutsche Bank AG upped their price target on Advance Auto Parts from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Morgan Stanley restated an “overweight” rating and issued a $180.00 price target on shares of Advance Auto Parts in a research note on Thursday, August 18th. Citigroup Inc. upped their price target on 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, Argus restated a “buy” rating and issued a $185.00 price target on shares of Advance Auto Parts in a research note on Wednesday, August 31st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Advance Auto Parts has an average rating of “Hold” and an average target price of $166.25.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

Shares of Advance Auto Parts (NYSE:AAP) opened at 162.98 on Tuesday. 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 capitalization of $11.99 billion, a P/E ratio of 26.32 and a beta of 1.04. Advance Auto Parts has a 52-week low of $131.59 and a 52-week high of $172.87.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Monday, November 14th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Advance Auto Parts had a return on equity of 20.89% and a net margin of 4.75%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business earned $1.95 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts predict 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. Shareholders of record on Friday, December 23rd will be paid a $0.06 dividend. The ex-dividend date is Wednesday, December 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.15%. Advance Auto Parts’s payout ratio is presently 3.94%.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of 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 raised its position in shares of 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 raised its position in shares of 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. Cornerstone Advisors Inc. raised its position in shares of Advance Auto Parts by 7,181.8% in the third quarter. Cornerstone Advisors Inc. now owns 801 shares of the company’s stock worth $119,000 after buying an additional 790 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its position 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 during the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

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.

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