Advance Auto Parts Inc. (AAP) Receives $164.22 Average Target Price from Analysts
Shares of Advance Auto Parts Inc. (NYSE:AAP) have received a consensus rating of “Hold” from the twenty-four brokerages that are covering the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $166.81.
A number of analysts recently weighed in on the company. Deutsche Bank AG lifted their price target on Advance Auto Parts from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Robert W. Baird restated a “neutral” rating and issued a $175.00 price target (up from $165.00) on shares of Advance Auto Parts in a research note on Wednesday. Zacks Investment Research upgraded Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Group restated a “hold” rating and issued a $160.00 price target (up from $150.00) on shares of Advance Auto Parts in a research note on Friday. Finally, RBC Capital Markets restated an “outperform” rating and issued a $174.00 price target (down from $180.00) on shares of Advance Auto Parts in a research note on Thursday, September 8th.
Shares of Advance Auto Parts (NYSE:AAP) opened at 162.57 on Monday. Advance Auto Parts has a 52 week low of $131.59 and a 52 week high of $172.87. The firm has a market capitalization of $11.96 billion, a P/E ratio of 26.25 and a beta of 1.04. The firm has a 50 day moving average price of $144.17 and a 200-day moving average price of $153.92.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Monday, November 14th. The company reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.02. Advance Auto Parts had a return on equity of 20.42% 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 period in the previous year, the business earned $1.95 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts predict that Advance Auto Parts will post $7.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 23rd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a $0.24 annualized dividend and a yield of 0.15%. Advance Auto Parts’s payout ratio is currently 3.94%.
In other Advance Auto Parts news, EVP Robert B. Cushing bought 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was purchased at an average cost of $156.66 per share, for a total transaction of $234,990.00. Following the completion of the purchase, the executive vice president now owns 6,362 shares of the company’s stock, valued at approximately $996,670.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Francis Ferraro bought 500 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was acquired at an average price of $160.28 per share, with a total value of $80,140.00. Following the completion of the purchase, the director now directly owns 2,941 shares of the company’s stock, valued at approximately $471,383.48. The disclosure for this purchase can be found here. 4.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position 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 last quarter. Kanaly Trust Co raised its stake 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 valued at $116,000 after buying an additional 285 shares in the last quarter. Global X Management Co. LLC raised its stake 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 valued at $117,000 after buying an additional 347 shares in the last quarter. 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 valued at $121,000 after buying an additional 29 shares in the last quarter. Finally, Cornerstone Advisors Inc. raised its stake 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 valued at $119,000 after buying an additional 790 shares in 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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