Advance Auto Parts (NYSE:AAP) Price Target Raised to $44.00

Advance Auto Parts (NYSE:AAP) had its price objective upped by UBS Group from $42.00 to $44.00 in a research note published on Friday morning, MarketBeat.com reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently issued reports on AAP. Roth Mkm reiterated a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. TD Cowen dropped their target price on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Mizuho reissued a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. The Goldman Sachs Group dropped their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Wedbush upgraded Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 target price for the company in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus price target of $49.14.

Advance Auto Parts Stock Down 8.5 %

Shares of NYSE AAP opened at $37.69 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The company has a market cap of $2.25 billion, a P/E ratio of 51.63 and a beta of 1.17. The stock has a fifty day moving average price of $39.02 and a 200 day moving average price of $54.11.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the firm posted ($0.82) earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Research analysts anticipate that Advance Auto Parts will post 2.26 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio is presently 136.99%.

Institutional Trading of Advance Auto Parts

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Advance Auto Parts in the first quarter valued at approximately $34,000. Oppenheimer & Co. Inc. bought a new position in Advance Auto Parts during the 1st quarter valued at $292,000. Sei Investments Co. increased its position in shares of Advance Auto Parts by 0.6% during the 1st quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock valued at $5,055,000 after purchasing an additional 352 shares during the period. US Bancorp DE raised its stake in shares of Advance Auto Parts by 10.3% in the 1st quarter. US Bancorp DE now owns 12,767 shares of the company’s stock worth $1,086,000 after buying an additional 1,197 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Advance Auto Parts in the first quarter valued at $207,000. 88.75% of the stock is currently owned by 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.