Advance Auto Parts (NYSE:AAP) Price Target Increased to $73.00 by Analysts at Evercore ISI

Advance Auto Parts (NYSE:AAP) had its price objective lifted by Evercore ISI from $72.00 to $73.00 in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has an in-line rating on the stock.

A number of other brokerages have also weighed in on AAP. Mizuho reduced their price target on shares of Advance Auto Parts from $78.00 to $64.00 and set a neutral rating for the company in a research note on Monday, June 10th. UBS Group upped their price target on shares of Advance Auto Parts from $68.00 to $72.00 and gave the stock a neutral rating in a research note on Tuesday, May 28th. Wedbush reaffirmed a neutral rating and issued a $70.00 price target on shares of Advance Auto Parts in a research note on Friday, May 24th. Royal Bank of Canada cut their target price on shares of Advance Auto Parts from $68.00 to $65.00 and set a sector perform rating for the company in a research note on Thursday, May 30th. Finally, Barclays increased their target price on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an equal weight rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $64.00.

Advance Auto Parts Trading Up 2.9 %

Advance Auto Parts stock opened at $66.16 on Thursday. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $70.86 and a two-hundred day moving average price of $68.97. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 95.89, a PEG ratio of 1.23 and a beta of 1.20. Advance Auto Parts has a 52-week low of $47.73 and a 52-week high of $88.56.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. Sell-side analysts expect that Advance Auto Parts will post 3.72 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.51%. Advance Auto Parts’s dividend payout ratio is currently 144.93%.

Insider Activity

In other news, Director Brent Windom purchased 4,700 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were acquired at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $853,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AAP. Allworth Financial LP increased its stake in Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after buying an additional 266 shares during the period. Principal Securities Inc. acquired a new position in Advance Auto Parts in the 4th quarter valued at approximately $27,000. Hexagon Capital Partners LLC increased its stake in Advance Auto Parts by 267.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after buying an additional 257 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Advance Auto Parts in the 1st quarter valued at approximately $34,000. Finally, Quarry LP increased its stake in shares of Advance Auto Parts by 285.7% during the 4th quarter. Quarry LP now owns 702 shares of the company’s stock worth $43,000 after purchasing an additional 520 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

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.