Wedbush reiterated their outperform rating on shares of Advance Auto Parts Inc. (NYSE:AAP) in a research note released on Tuesday morning. Wedbush currently has a $175.00 target price on the stock.

Several other equities analysts have also recently commented on the stock. Susquehanna raised shares of Advance Auto Parts from a neutral rating to a positive rating and boosted their price objective for the company from $164.64 to $166.00 in a research note on Tuesday. Credit Suisse Group AG reissued an outperform rating and issued a $171.00 price target on shares of Advance Auto Parts in a research note on Sunday, October 23rd. BTIG Research reissued a sell rating and issued a $120.00 price target on shares of Advance Auto Parts in a research note on Wednesday, October 19th. Jefferies Group reissued a hold rating and issued a $150.00 price target on shares of Advance Auto Parts in a research note on Wednesday, October 19th. Finally, RBC Capital Markets reissued an outperform rating and issued a $174.00 price target (down previously from $180.00) on shares of Advance Auto Parts in a research note on Thursday, September 8th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $166.25.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

Advance Auto Parts (NYSE:AAP) opened at 166.32 on Tuesday. The stock’s 50 day moving average is $144.72 and its 200 day moving average is $153.88. The company has a market cap of $12.24 billion, a P/E ratio of 26.86 and a beta of 1.04. Advance Auto Parts has a 1-year low of $131.59 and a 1-year 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 4.75% and a return on equity of 20.42%. 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 analysts anticipate that Advance Auto Parts will post $7.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 23rd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Wednesday, December 21st. Advance Auto Parts’s dividend payout ratio is presently 3.94%.

In other news, CEO Thomas Greco acquired 6,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were bought at an average cost of $159.56 per share, with a total value of $997,250.00. Following the transaction, the chief executive officer now owns 42,154 shares of the company’s stock, valued at approximately $6,726,092.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey C. Smith acquired 70,000 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were purchased at an average cost 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 in the company, valued at approximately $201,796.67. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Creative Planning increased 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 valued at $190,000 after buying an additional 8 shares during the period. Cleararc Capital Inc. increased 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 valued at $290,000 after buying an additional 16 shares during the period. Edmp Inc. increased 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 valued at $220,000 after buying an additional 16 shares during the period. Johnson Investment Counsel Inc. increased 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 valued at $562,000 after buying an additional 20 shares during the period. Finally, Checchi Capital Advisers LLC increased 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 valued at $121,000 after buying an additional 29 shares during the period. 99.42% of the stock is currently owned by institutional investors.

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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