Bank of America Corporation set a $77.00 price objective on Advance Auto Parts Inc (NYSE:AAP) in a research note published on Thursday morning. The brokerage currently has a sell rating on the stock.

AAP has been the subject of several other reports. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Advance Auto Parts in a report on Wednesday, May 24th. Royal Bank Of Canada reduced their target price on Advance Auto Parts from $153.00 to $125.00 and set a sector perform rating for the company in a report on Thursday, July 6th. Wedbush reissued an outperform rating on shares of Advance Auto Parts in a report on Thursday, July 6th. UBS AG reissued a buy rating and issued a $170.00 target price (down from $180.00) on shares of Advance Auto Parts in a report on Thursday, May 25th. Finally, Morgan Stanley reissued an overweight rating and issued a $125.00 target price (down from $160.00) on shares of Advance Auto Parts in a report on Thursday, July 6th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $126.68.

Shares of Advance Auto Parts (AAP) opened at 93.26 on Thursday. The company has a market cap of $6.89 billion, a P/E ratio of 18.62 and a beta of 0.87. Advance Auto Parts has a 1-year low of $82.21 and a 1-year high of $177.83. The firm has a 50-day moving average price of $105.08 and a 200-day moving average price of $135.28.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts expect that Advance Auto Parts will post $5.26 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, September 21st. Advance Auto Parts’s payout ratio is 4.80%.

In other Advance Auto Parts news, insider Thomas Greco bought 16,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were bought at an average price of $134.63 per share, for a total transaction of $2,154,080.00. Following the transaction, the insider now owns 111,030 shares of the company’s stock, valued at approximately $14,947,968.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adriana Karaboutis bought 367 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were acquired at an average price of $135.28 per share, for a total transaction of $49,647.76. Following the transaction, the director now directly owns 3,043 shares in the company, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Insiders have acquired a total of 369,462 shares of company stock worth $49,617,073 in the last quarter. 4.50% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in AAP. Toronto Dominion Bank boosted its position in Advance Auto Parts by 25.3% in the second quarter. Toronto Dominion Bank now owns 25,279 shares of the company’s stock valued at $2,947,000 after buying an additional 5,109 shares during the last quarter. Rikoon Group LLC boosted its position in Advance Auto Parts by 6.0% in the second quarter. Rikoon Group LLC now owns 6,698 shares of the company’s stock valued at $781,000 after buying an additional 381 shares during the last quarter. Verition Fund Management LLC boosted its position in Advance Auto Parts by 2.9% in the second quarter. Verition Fund Management LLC now owns 6,574 shares of the company’s stock valued at $766,000 after buying an additional 184 shares during the last quarter. Intellectus Partners LLC boosted its position in Advance Auto Parts by 39.7% in the second quarter. Intellectus Partners LLC now owns 4,260 shares of the company’s stock valued at $497,000 after buying an additional 1,210 shares during the last quarter. Finally, Security National Bank of SO Dak boosted its position in Advance Auto Parts by 2.2% in the second quarter. Security National Bank of SO Dak now owns 5,052 shares of the company’s stock valued at $589,000 after buying an additional 110 shares during the last quarter.

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.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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