Advance Auto Parts (NYSE:AAP – Free Report) had its target price lifted by Truist Financial from $60.00 to $70.00 in a research report released on Tuesday morning, MarketBeat.com reports. They currently have a hold rating on the stock.
AAP has been the topic of a number of other research reports. Mizuho initiated coverage on shares of Advance Auto Parts in a research note on Tuesday, March 19th. They set a neutral rating and a $78.00 target price on the stock. Barclays lifted 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. JPMorgan Chase & Co. boosted their price target on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a neutral rating in a research note on Thursday, February 29th. Evercore ISI boosted their price target on shares of Advance Auto Parts from $74.00 to $83.00 and gave the stock an in-line rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada boosted their price target on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a sector perform rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $70.47.
Check Out Our Latest Stock Analysis on Advance Auto Parts
Advance Auto Parts Trading Down 1.8 %
Shares of AAP stock opened at $83.92 on Tuesday. Advance Auto Parts has a 1 year low of $47.73 and a 1 year high of $129.90. The firm has a fifty day moving average price of $71.95 and a 200-day moving average price of $61.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 113.41, a PEG ratio of 1.54 and a beta of 1.17.
Advance Auto Parts (NYSE:AAP – Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm earned $2.88 EPS. The company’s revenue was down .4% on a year-over-year basis. As a group, equities analysts predict that Advance Auto Parts will post 3.95 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, April 26th. Investors of record on Friday, April 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.00 annualized dividend and a yield of 1.19%. Advance Auto Parts’s payout ratio is 135.14%.
Insider Activity at Advance Auto Parts
In other news, Director Carla Jean Bailo purchased 310 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the acquisition, the director now owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Brent Windom bought 4,700 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were acquired at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $853,400. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carla Jean Bailo bought 310 shares of the company’s stock in a transaction on Monday, March 18th. The stock was bought at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the completion of the purchase, the director now directly owns 5,789 shares in the company, valued at $470,008.91. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Advance Auto Parts
Hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd grew its stake in Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after acquiring an additional 83 shares in the last quarter. Clear Street Markets LLC grew its stake in Advance Auto Parts by 245.9% in the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. Industrial Alliance Investment Management Inc. grew its stake in Advance Auto Parts by 469.4% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 353 shares of the company’s stock worth $52,000 after acquiring an additional 291 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Advance Auto Parts in the 2nd quarter worth approximately $28,000. Finally, Allworth Financial LP lifted its position in shares of Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the period. 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.
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Source: defenseworld.net
