Advance Auto Parts Inc. (AAP) Upgraded at Raymond James Financial Inc.
Raymond James Financial Inc. upgraded shares of Advance Auto Parts Inc. (NYSE:AAP) from a market perform rating to a strong-buy rating in a research report report published on Tuesday. They currently have $180.00 price target on the stock.
A number of other research analysts have also commented on the stock. RBC Capital Markets reiterated an outperform rating and issued a $175.00 price target (up previously from $174.00) on shares of Advance Auto Parts in a research note on Tuesday. Royal Bank Of Canada upped 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 note on Tuesday. Wedbush reiterated an outperform rating and issued a $175.00 price target on shares of Advance Auto Parts in a research note on Tuesday. Susquehanna upgraded shares of Advance Auto Parts from a neutral rating to a positive rating and upped their price target for the company from $164.64 to $166.00 in a research note on Tuesday. Finally, Credit Suisse Group AG reiterated an outperform rating and issued a $171.00 price target on shares of Advance Auto Parts in a research note on Sunday, October 23rd. Three investment 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. The company has a consensus rating of Hold and an average price target of $166.25.
Advance Auto Parts (NYSE:AAP) opened at 166.32 on Tuesday. The company has a market cap of $12.24 billion, a PE ratio of 26.86 and a beta of 1.04. The stock has a 50 day moving average of $144.72 and a 200-day moving average of $153.88. 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 announced its quarterly earnings results on Monday, November 14th. The company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.02. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business earned $1.95 EPS. Advance Auto Parts’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Advance Auto Parts will post $7.25 earnings per share for the current year.
The firm 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 dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Wednesday, December 21st. Advance Auto Parts’s payout ratio is currently 3.94%.
In other news, EVP Charles E. Tyson acquired 633 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was bought at an average cost of $157.75 per share, for a total transaction of $99,855.75. Following the completion of the transaction, the executive vice president now directly owns 18,397 shares in the company, valued at approximately $2,902,126.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey C. Smith acquired 70,000 shares of the firm’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 completion of 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. Insiders own 4.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in Advance Auto Parts by 31.9% in the second quarter. Van ECK Associates Corp now owns 637 shares of the company’s stock valued at $103,000 after buying an additional 154 shares during the period. Kanaly Trust Co boosted its stake in Advance Auto Parts by 65.5% in the second quarter. Kanaly Trust Co now owns 720 shares of the company’s stock valued at $116,000 after buying an additional 285 shares during the period. Global X Management Co. LLC boosted its stake in Advance Auto Parts by 92.3% in the second quarter. Global X Management Co. LLC now owns 723 shares of the company’s stock valued at $117,000 after buying an additional 347 shares during the period. Cornerstone Advisors Inc. boosted its stake in Advance Auto Parts by 7,181.8% in the third quarter. Cornerstone Advisors Inc. now owns 801 shares of the company’s stock valued at $119,000 after buying an additional 790 shares during the period. Finally, Checchi Capital Advisers LLC boosted 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 valued at $121,000 after buying an additional 29 shares during the period. 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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