MKM Partners began coverage on shares of Advance Auto Parts (NYSE:AAP – Get Rating) in a research report sent to investors on Thursday, The Fly reports. The firm issued a buy rating and a $195.00 price objective on the stock.
Several other equities research analysts also recently commented on AAP. Morgan Stanley dropped their target price on Advance Auto Parts from $240.00 to $225.00 and set an equal weight rating on the stock in a report on Tuesday, May 24th. Wells Fargo & Company decreased their price target on Advance Auto Parts from $230.00 to $200.00 and set an equal weight rating for the company in a research note on Tuesday, May 24th. Wedbush decreased their price target on Advance Auto Parts from $270.00 to $215.00 and set an outperform rating for the company in a research note on Tuesday, May 24th. Truist Financial decreased their price target on Advance Auto Parts from $276.00 to $238.00 and set a buy rating for the company in a research note on Wednesday, May 25th. Finally, Guggenheim decreased their price target on Advance Auto Parts from $266.00 to $259.00 and set a buy rating for the company in a research note on Wednesday, May 25th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $242.17.
NYSE:AAP opened at $178.63 on Thursday. The business’s 50-day moving average price is $196.19 and its two-hundred day moving average price is $213.53. Advance Auto Parts has a twelve month low of $164.00 and a twelve month high of $244.55. The stock has a market cap of $10.83 billion, a P/E ratio of 19.89, a PEG ratio of 0.99 and a beta of 1.23. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41.
Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings results on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.02). Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the business earned $3.34 EPS. The business’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Advance Auto Parts will post 13.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Thursday, June 16th. Advance Auto Parts’s payout ratio is presently 66.82%.
Several hedge funds and other institutional investors have recently modified their holdings of AAP. Central Bank & Trust Co. purchased a new stake in shares of Advance Auto Parts in the first quarter worth approximately $29,000. Life Planning Partners Inc purchased a new position in Advance Auto Parts during the 4th quarter worth $30,000. Covestor Ltd increased its holdings in Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Advance Auto Parts during the 1st quarter worth $35,000. Finally, FNY Investment Advisers LLC purchased a new position in Advance Auto Parts during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.
Advance Auto Parts Company Profile (Get Rating)
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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