Advance Auto Parts (NYSE:AAP) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Advance Auto Parts (NYSE:AAP – Get Rating) in a research report released on Thursday. The firm issued a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Wells Fargo & Company dropped their target price on Advance Auto Parts from $180.00 to $150.00 and set an equal weight rating on the stock in a report on Thursday, January 5th. Guggenheim lowered Advance Auto Parts from a buy rating to a neutral rating in a report on Thursday, November 17th. The Goldman Sachs Group dropped their target price on Advance Auto Parts from $230.00 to $197.00 and set a buy rating on the stock in a report on Thursday, November 17th. Morgan Stanley dropped their price objective on Advance Auto Parts from $165.00 to $155.00 and set an equal weight rating on the stock in a report on Wednesday, March 1st. Finally, Truist Financial lowered Advance Auto Parts from a buy rating to a hold rating and dropped their price objective for the stock from $228.00 to $147.00 in a report on Wednesday, November 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Advance Auto Parts presently has an average rating of Hold and a consensus target price of $166.89.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $119.40 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.21 and a debt-to-equity ratio of 0.44. Advance Auto Parts has a twelve month low of $117.89 and a twelve month high of $231.43. The stock has a 50 day moving average of $144.08 and a two-hundred day moving average of $156.19. The stock has a market cap of $7.08 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.00 and a beta of 1.12.

Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.47. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Advance Auto Parts had a return on equity of 28.53% and a net margin of 4.50%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 earnings per share. On average, research analysts forecast that Advance Auto Parts will post 10.65 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a $1.50 dividend. The ex-dividend date is Thursday, April 13th. This represents a $6.00 annualized dividend and a dividend yield of 5.03%. Advance Auto Parts’s dividend payout ratio is currently 72.55%.

Institutional Trading of Advance Auto Parts

Several institutional investors and hedge funds have recently made changes to their positions in AAP. Private Advisor Group LLC purchased a new stake in shares of Advance Auto Parts in the first quarter valued at $232,000. MetLife Investment Management LLC lifted its position in shares of Advance Auto Parts by 21.9% in the first quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock valued at $3,511,000 after acquiring an additional 3,046 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Advance Auto Parts by 5.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock valued at $1,727,000 after acquiring an additional 435 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Advance Auto Parts by 120.6% in the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock valued at $2,399,000 after acquiring an additional 6,338 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Advance Auto Parts by 14.4% in the first quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock valued at $956,000 after acquiring an additional 582 shares in the last quarter. 96.04% of the stock is currently owned by hedge funds and other institutional investors.

About Advance Auto Parts

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Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.