Advance Auto Parts (NYSE:AAP) had its price objective trimmed by Nomura from $160.00 to $150.00 in a research report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the stock.
A number of other brokerages also recently issued reports on AAP. Raymond James reaffirmed a hold rating on shares of Advance Auto Parts in a research report on Wednesday, February 19th. Wedbush reaffirmed an outperform rating and issued a $180.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, February 19th. Morgan Stanley reduced their target price on shares of Advance Auto Parts from $185.00 to $180.00 and set an overweight rating for the company in a research report on Thursday, February 13th. Stephens increased their target price on shares of Advance Auto Parts from $155.00 to $160.00 and gave the company an equal weight rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Co reduced their target price on shares of Advance Auto Parts from $165.00 to $140.00 and set an equal weight rating for the company in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $162.50.
Shares of AAP stock opened at $140.61 on Thursday. Advance Auto Parts has a 52-week low of $129.94 and a 52-week high of $182.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.28 and a current ratio of 1.27. The company has a 50-day simple moving average of $142.55 and a two-hundred day simple moving average of $151.86. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.44 and a beta of 0.88.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.29. Advance Auto Parts had a net margin of 5.01% and a return on equity of 16.41%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the prior year, the firm posted $1.17 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. On average, sell-side analysts forecast that Advance Auto Parts will post 9.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 20th will be given a dividend of $0.25 per share. This is an increase from Advance Auto Parts’s previous quarterly dividend of $0.06. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, March 19th. Advance Auto Parts’s dividend payout ratio is currently 2.93%.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Advance Auto Parts by 7.2% during the 2nd quarter. BlackRock Inc. now owns 5,326,148 shares of the company’s stock valued at $820,972,000 after acquiring an additional 358,324 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Advance Auto Parts by 1.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,677,192 shares of the company’s stock worth $268,619,000 after buying an additional 25,585 shares during the period. Allen Investment Management LLC boosted its holdings in Advance Auto Parts by 3.6% in the 4th quarter. Allen Investment Management LLC now owns 1,223,646 shares of the company’s stock worth $195,979,000 after buying an additional 42,318 shares during the period. Champlain Investment Partners LLC boosted its holdings in Advance Auto Parts by 0.4% in the 4th quarter. Champlain Investment Partners LLC now owns 1,154,755 shares of the company’s stock worth $184,946,000 after buying an additional 4,390 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Advance Auto Parts by 52.5% in the 4th quarter. Bank of America Corp DE now owns 1,132,971 shares of the company’s stock worth $181,457,000 after buying an additional 390,256 shares during the period. 97.49% of the stock is owned by hedge funds and other institutional investors.
Advance Auto Parts Company Profile
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.
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