Advance Auto Parts Inc (AAP) Receives $120.65 Average PT from Analysts
Advance Auto Parts Inc (NYSE:AAP) has received a consensus recommendation of “Hold” from the twenty-six research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $120.65.
Several research analysts recently issued reports on AAP shares. Bank of America Corp cut their price target on shares of Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a report on Thursday, May 25th. Morgan Stanley reissued an “overweight” rating and set a $160.00 price target (down from $185.00) on shares of Advance Auto Parts in a report on Sunday, May 28th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Advance Auto Parts in a report on Wednesday, May 31st. BTIG Research reissued a “sell” rating and set a $109.00 price target (down from $120.00) on shares of Advance Auto Parts in a report on Thursday, June 22nd. Finally, Royal Bank Of Canada cut their price target on shares of Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating for the company in a report on Tuesday, May 2nd.
In related news, Director Brad W. Buss purchased 1,200 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were bought at an average cost of $134.47 per share, for a total transaction of $161,364.00. Following the transaction, the director now owns 1,928 shares of the company’s stock, valued at $259,258.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adriana Karaboutis purchased 367 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were bought at an average price of $135.28 per share, for a total transaction of $49,647.76. Following the completion of 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. Over the last quarter, insiders purchased 351,567 shares of company stock worth $47,212,512. 4.50% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Sentry Investment Management LLC increased its stake in Advance Auto Parts by 40.3% in the second quarter. Sentry Investment Management LLC now owns 5,473 shares of the company’s stock worth $638,000 after buying an additional 1,572 shares during the last quarter. Toronto Dominion Bank increased 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 period. Rikoon Group LLC increased 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 period. Verition Fund Management LLC increased 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 period. Finally, Intellectus Partners LLC increased 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 period.
Advance Auto Parts (NYSE:AAP) traded up 3.44% during mid-day trading on Tuesday, reaching $96.30. The company’s stock had a trading volume of 1,328,106 shares. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 19.23 and a beta of 0.87. Advance Auto Parts has a one year low of $82.21 and a one year high of $177.83. The stock has a 50-day moving average price of $103.20 and a 200-day moving average price of $133.34.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates 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 business 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 company posted $1.90 earnings per share. Advance Auto Parts’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts forecast that Advance Auto Parts will post $5.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.26%. Advance Auto Parts’s dividend payout ratio is presently 4.80%.
About Advance Auto Parts
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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