Advance Auto Parts’ (AAP) Buy Rating Reiterated at Credit Suisse Group AG
Advance Auto Parts Inc. (NYSE:AAP)‘s stock had its “buy” rating reiterated by Credit Suisse Group AG in a report released on Wednesday. They currently have a $171.00 price target on the stock. Credit Suisse Group AG’s price target would indicate a potential upside of 0.42% from the company’s previous close.
A number of other analysts also recently issued reports on the stock. Jefferies Group restated a “hold” rating and set a $160.00 price objective (up previously from $150.00) on shares of Advance Auto Parts in a report on Friday, November 18th. Zacks Investment Research upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Robert W. Baird restated a “neutral” rating and set a $175.00 price objective (up previously from $165.00) on shares of Advance Auto Parts in a report on Wednesday, November 16th. Raymond James Financial Inc. upgraded shares of Advance Auto Parts from a “market perform” rating to a “strong-buy” rating and set a $180.00 price objective for the company in a report on Tuesday, November 15th. Finally, RBC Capital Markets restated an “outperform” rating and set a $175.00 price objective (up previously from $174.00) on shares of Advance Auto Parts in a report on Tuesday, November 15th. Three 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 presently has a consensus rating of “Hold” and a consensus price target of $166.81.
Shares of Advance Auto Parts (NYSE:AAP) traded up 0.33% during trading on Wednesday, hitting $170.85. 313,800 shares of the stock traded hands. Advance Auto Parts has a 1-year low of $131.59 and a 1-year high of $172.87. The stock has a 50-day moving average of $146.78 and a 200 day moving average of $154.26. The company has a market cap of $12.58 billion, a P/E ratio of 28.00 and a beta of 1.04.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Monday, November 14th. The company reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.02. The company earned $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.95 earnings per share. On average, equities research analysts predict that Advance Auto Parts will post $7.25 EPS for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Wednesday, December 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.14%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 3.94%.
In related news, EVP Robert B. Cushing bought 1,500 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were acquired at an average cost of $156.66 per share, with a total value of $234,990.00. Following the completion of the purchase, the executive vice president now directly owns 6,362 shares of the company’s stock, valued at approximately $996,670.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey C. Smith bought 70,000 shares of the stock in a transaction that occurred on Friday, September 2nd. The stock was bought at an average cost of $158.77 per share, for a total transaction of $11,113,900.00. Following the completion of the purchase, the director now directly 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 currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Kirr Marbach & Co. LLC IN bought a new stake in shares of Advance Auto Parts during the second quarter worth $10,089,000. Selway Asset Management increased its stake in shares of Advance Auto Parts by 25.6% in the second quarter. Selway Asset Management now owns 14,475 shares of the company’s stock worth $2,340,000 after buying an additional 2,950 shares in the last quarter. General Electric Co. increased its stake in shares of Advance Auto Parts by 79.5% in the second quarter. General Electric Co. now owns 335,072 shares of the company’s stock worth $54,158,000 after buying an additional 148,359 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Advance Auto Parts by 21.7% in the second quarter. Schroder Investment Management Group now owns 605,000 shares of the company’s stock worth $97,786,000 after buying an additional 107,700 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Advance Auto Parts by 0.4% in the second quarter. Teacher Retirement System of Texas now owns 338,832 shares of the company’s stock worth $54,765,000 after buying an additional 1,244 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.
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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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