Credit Suisse Group upgraded shares of Advance Auto Parts (NYSE:AAP) to a buy rating in a report published on Sunday morning. Credit Suisse Group currently has $122.00 price target on the stock.
A number of other brokerages have also recently weighed in on AAP. JPMorgan Chase lifted their price target on shares of Advance Auto Parts from $110.00 to $138.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Argus reissued a buy rating and set a $114.00 price target (down from $135.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Zacks Investment Research raised shares of Advance Auto Parts from a hold rating to a buy rating and set a $130.00 price target on the stock in a research report on Tuesday, January 16th. Stephens reissued a hold rating and set a $113.00 price target (up from $58.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Finally, Robert W. Baird reissued a neutral rating and set a $125.00 price target (up from $100.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $112.98.
Shares of NYSE AAP opened at $106.93 on Friday. The firm has a market cap of $7,675.97, a PE ratio of 19.91, a PEG ratio of 1.25 and a beta of 1.04. Advance Auto Parts has a twelve month low of $78.81 and a twelve month high of $151.72. The company has a current ratio of 1.56, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. equities analysts anticipate that Advance Auto Parts will post 6.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Friday, March 23rd were paid a $0.06 dividend. The ex-dividend date was Thursday, March 22nd. This represents a $0.24 annualized dividend and a yield of 0.22%. Advance Auto Parts’s payout ratio is currently 4.47%.
In other Advance Auto Parts news, Director John C. Brouillard sold 1,745 shares of Advance Auto Parts stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $116.08, for a total value of $202,559.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tammy M. Finley sold 342 shares of Advance Auto Parts stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $116.35, for a total transaction of $39,791.70. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB increased its stake in Advance Auto Parts by 6.1% in the 4th quarter. Xact Kapitalforvaltning AB now owns 13,546 shares of the company’s stock valued at $1,350,000 after buying an additional 774 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Advance Auto Parts by 19.6% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,912 shares of the company’s stock worth $3,480,000 after purchasing an additional 5,722 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Advance Auto Parts by 54.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,242 shares of the company’s stock worth $322,000 after purchasing an additional 1,144 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Advance Auto Parts during the 4th quarter worth about $2,116,000. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Advance Auto Parts during the 4th quarter worth about $857,000.
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About Advance Auto Parts
Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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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