Advance Auto Parts Inc (AAP) Earns Market Perform Rating from Raymond James Financial, Inc.

Raymond James Financial, Inc. reissued their market perform rating on shares of Advance Auto Parts Inc (NYSE:AAP) in a research note published on Wednesday morning, Marketbeat Ratings reports.

A number of other analysts also recently commented on AAP. Barclays PLC restated an equal weight rating and set a $90.00 price objective (down from $93.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. UBS AG reiterated a buy rating and issued a $118.00 price target (down from $155.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Advance Auto Parts in a report on Tuesday, August 15th. Citigroup Inc. lowered their price target on Advance Auto Parts to $99.00 and set a neutral rating for the company in a report on Wednesday, August 16th. Finally, Bank of America Corporation set a $77.00 price target on Advance Auto Parts and gave the company a sell rating in a report on Thursday, August 17th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. Advance Auto Parts currently has a consensus rating of Hold and an average price target of $118.79.

Advance Auto Parts (NYSE AAP) opened at 94.29 on Wednesday. The company has a market capitalization of $6.96 billion, a P/E ratio of 18.82 and a beta of 0.92. The stock’s 50 day moving average price is $96.38 and its 200 day moving average price is $120.26. Advance Auto Parts has a one year low of $82.21 and a one year high of $177.83.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.07). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. Equities analysts anticipate that Advance Auto Parts will post $5.17 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.25%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sentry Investment Management LLC increased its stake in shares of Advance Auto Parts by 40.3% during the second quarter. Sentry Investment Management LLC now owns 5,473 shares of the company’s stock valued at $638,000 after acquiring an additional 1,572 shares during the period. Toronto Dominion Bank increased its stake in shares of Advance Auto Parts by 25.3% during the second quarter. Toronto Dominion Bank now owns 25,279 shares of the company’s stock valued at $2,947,000 after acquiring an additional 5,109 shares during the period. Rikoon Group LLC increased its stake in shares of Advance Auto Parts by 6.0% during the second quarter. Rikoon Group LLC now owns 6,698 shares of the company’s stock valued at $781,000 after acquiring an additional 381 shares during the period. Verition Fund Management LLC increased its stake in shares of Advance Auto Parts by 2.9% during the second quarter. Verition Fund Management LLC now owns 6,574 shares of the company’s stock valued at $766,000 after acquiring an additional 184 shares during the period. Finally, Intellectus Partners LLC increased its stake in shares of Advance Auto Parts by 39.7% during the second quarter. Intellectus Partners LLC now owns 4,260 shares of the company’s stock valued at $497,000 after acquiring an additional 1,210 shares during the period.

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.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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