Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Recommendation of “Buy” by Analysts


Shares of Advance Auto Parts, Inc. (NYSE:AAPGet Rating) have been given a consensus rating of “Buy” by the eighteen brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $244.94.

A number of brokerages have issued reports on AAP. Raymond James reduced their price target on Advance Auto Parts from $275.00 to $250.00 in a research report on Wednesday, May 25th. Citigroup decreased their target price on shares of Advance Auto Parts from $294.00 to $250.00 in a research report on Friday, May 13th. StockNews.com downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Guggenheim decreased their price objective on shares of Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Finally, Wells Fargo & Company dropped their target price on Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 24th.

Advance Auto Parts stock opened at $172.29 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.25 and a current ratio of 1.20. Advance Auto Parts has a one year low of $169.00 and a one year high of $244.55. The company has a 50-day simple moving average of $202.17 and a 200-day simple moving average of $215.80. The firm has a market capitalization of $10.45 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.04 and a beta of 1.23.

Advance Auto Parts (NYSE:AAPGet Rating) last posted its earnings results on Monday, May 23rd. The company reported $3.57 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.02). The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.39 billion. Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. Advance Auto Parts’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $3.34 EPS. As a group, sell-side analysts forecast that Advance Auto Parts will post 13.68 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, June 16th. Advance Auto Parts’s payout ratio is 66.82%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Advance Auto Parts by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 525,040 shares of the company’s stock worth $109,676,000 after buying an additional 4,942 shares during the period. OPSEU Pension Plan Trust Fund raised its holdings in shares of Advance Auto Parts by 23.2% during the fourth quarter. OPSEU Pension Plan Trust Fund now owns 5,253 shares of the company’s stock valued at $1,254,000 after acquiring an additional 990 shares during the period. Donald L. Hagan LLC purchased a new stake in shares of Advance Auto Parts in the 4th quarter valued at approximately $802,000. CWM LLC acquired a new position in Advance Auto Parts in the 4th quarter worth approximately $3,736,000. Finally, Maverick Capital Ltd. purchased a new position in Advance Auto Parts during the 3rd quarter worth approximately $5,190,000. 98.99% of the stock is owned by institutional investors and hedge funds.

About Advance Auto Parts (Get Rating)

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.

See Also

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)



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