Wolfe Research cut shares of Advance Auto Parts (NYSE:AAP) from an outperform rating to a peer perform rating in a research note issued to investors on Tuesday, Briefing.com Automated Import reports. Wolfe Research currently has $128.00 price target on the stock.
Several other analysts have also recently weighed in on the stock. Guggenheim cut shares of Advance Auto Parts from a buy rating to a neutral rating in a research note on Wednesday, August 14th. Wedbush reiterated an outperform rating and issued a $200.00 price objective on shares of Advance Auto Parts in a research note on Thursday, July 11th. Morgan Stanley set a $185.00 price objective on shares of Advance Auto Parts and gave the stock a buy rating in a research note on Tuesday, September 10th. Goldman Sachs Group started coverage on shares of Advance Auto Parts in a research note on Thursday, July 11th. They issued a sell rating and a $151.00 price objective for the company. Finally, Credit Suisse Group dropped their price objective on shares of Advance Auto Parts from $195.00 to $162.00 and set an outperform rating for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $181.88.
NYSE AAP opened at $158.56 on Tuesday. The firm has a 50-day moving average of $151.46 and a 200-day moving average of $156.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.36 and a current ratio of 1.36. The stock has a market cap of $11.02 billion, a PE ratio of 20.53, a P/E/G ratio of 1.68 and a beta of 0.87. Advance Auto Parts has a 52-week low of $130.09 and a 52-week high of $186.15.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.22). Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business posted $1.97 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts predict that Advance Auto Parts will post 7.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.15%. The ex-dividend date was Thursday, September 19th. Advance Auto Parts’s dividend payout ratio is currently 3.37%.
Hedge funds have recently added to or reduced their stakes in the business. Doyle Wealth Management bought a new position in Advance Auto Parts in the 2nd quarter valued at about $31,000. Berman Capital Advisors LLC increased its holdings in Advance Auto Parts by 172.8% in the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $33,000 after buying an additional 140 shares during the period. Citizens Financial Group Inc RI increased its holdings in Advance Auto Parts by 466.7% in the 2nd quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock valued at $34,000 after buying an additional 182 shares during the period. Avestar Capital LLC increased its holdings in Advance Auto Parts by 625.0% in the 2nd quarter. Avestar Capital LLC now owns 406 shares of the company’s stock valued at $42,000 after buying an additional 350 shares during the period. Finally, CSat Investment Advisory L.P. increased its holdings in Advance Auto Parts by 66.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 292 shares of the company’s stock valued at $45,000 after buying an additional 117 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.
About Advance Auto Parts
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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