Advance Auto Parts Inc (AAP) Given Average Recommendation of “Hold” by Analysts
Shares of Advance Auto Parts Inc (NYSE:AAP) have been given a consensus rating of “Hold” by the twenty-six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $148.87.
AAP has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. BTIG Research reissued a “sell” rating and issued a $120.00 target price on shares of Advance Auto Parts in a report on Tuesday, March 28th. Wedbush reissued an “outperform” rating on shares of Advance Auto Parts in a report on Thursday, July 6th. Gabelli raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Thursday, April 20th. Finally, Barclays PLC boosted their price target on shares of Advance Auto Parts from $93.00 to $120.00 and gave the stock an “underweight” rating in a research report on Thursday, July 6th.
Shares of Advance Auto Parts (AAP) traded down 1.14% during trading on Monday, reaching $102.04. 1,205,382 shares of the company were exchanged. Advance Auto Parts has a 52-week low of $99.13 and a 52-week high of $177.83. The stock’s 50-day moving average is $132.91 and its 200-day moving average is $151.47. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 18.49 and a beta of 0.88.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, May 24th. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $2.20 by $0.60. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the firm posted $2.51 EPS. Advance Auto Parts’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts predict that Advance Auto Parts will post $6.49 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 23rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio is currently 4.36%.
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In related news, insider Thomas Greco bought 16,000 shares of the stock in a transaction dated Friday, May 26th. The stock was purchased at an average cost of $134.63 per share, with a total value of $2,154,080.00. Following the completion of the purchase, the insider now owns 111,030 shares of the company’s stock, valued at $14,947,968.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eugene I. Lee, Jr. bought 1,895 shares of the stock in a transaction dated Friday, May 26th. The shares were bought at an average cost of $132.18 per share, with a total value of $250,481.10. Following the completion of the purchase, the director now directly owns 4,398 shares of the company’s stock, valued at approximately $581,327.64. The disclosure for this purchase can be found here. Insiders have bought 369,462 shares of company stock valued at $49,617,073 over the last three months. Insiders own 4.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. IFP Advisors Inc raised its stake in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares during the period. Van ECK Associates Corp raised its stake in Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after buying an additional 67 shares during the period. Global X Management Co. LLC raised its stake in Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock worth $144,000 after buying an additional 218 shares during the period. Harbour Capital Advisors LLC acquired a new stake in Advance Auto Parts during the first quarter worth $148,000. Finally, State of Alaska Department of Revenue raised its stake in Advance Auto Parts by 12.3% in the second quarter. State of Alaska Department of Revenue now owns 1,460 shares of the company’s stock worth $170,000 after buying an additional 160 shares during the period.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. 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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