Advance Auto Parts (NYSE:AAP – Free Report) had its price target reduced by Truist Financial from $70.00 to $63.00 in a report released on Thursday morning, Benzinga reports. They currently have a hold rating on the stock.
Other research analysts have also recently issued reports about the stock. Mizuho started coverage on shares of Advance Auto Parts in a report on Tuesday, March 19th. They issued a neutral rating and a $78.00 target price for the company. UBS Group raised their target price on shares of Advance Auto Parts from $68.00 to $72.00 and gave the stock a neutral rating in a report on Tuesday. Barclays raised their target price on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an equal weight rating in a report on Thursday, February 29th. Wedbush reiterated a neutral rating and issued a $70.00 target price on shares of Advance Auto Parts in a report on Friday, May 24th. Finally, Royal Bank of Canada raised their target price on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a sector perform rating in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating and seventeen have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $65.56.
Check Out Our Latest Research Report on Advance Auto Parts
Advance Auto Parts Stock Performance
Shares of AAP opened at $66.96 on Thursday. The firm’s 50 day moving average is $76.31 and its 200-day moving average is $67.72. The stock has a market capitalization of $3.99 billion, a P/E ratio of 90.49, a P/E/G ratio of 1.27 and a beta of 1.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29. Advance Auto Parts has a 12-month low of $47.73 and a 12-month high of $112.57.
Advance Auto Parts (NYSE:AAP – Get Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.43 billion. Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. Equities research analysts anticipate that Advance Auto Parts will post 3.94 EPS for the current fiscal year.
Advance Auto Parts Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, July 12th. Advance Auto Parts’s payout ratio is presently 135.14%.
Insider Activity at Advance Auto Parts
In other news, Director Carla Jean Bailo purchased 310 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were bought at an average price of $81.19 per share, with a total value of $25,168.90. Following the completion of the transaction, the director now directly owns 5,789 shares in the company, valued at approximately $470,008.91. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, Director Brent Windom purchased 4,700 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were bought at an average price of $85.34 per share, with a total value of $401,098.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $853,400. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Carla Jean Bailo bought 310 shares of the company’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 transaction, the director now directly owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.
Hedge Funds Weigh In On Advance Auto Parts
Institutional investors and hedge funds have recently bought and sold shares of the stock. Caxton Associates LP bought a new position in Advance Auto Parts during the third quarter worth $1,223,000. Kepos Capital LP acquired a new stake in Advance Auto Parts during the third quarter worth $3,356,000. Public Sector Pension Investment Board boosted its stake in Advance Auto Parts by 1,173.5% during the third quarter. Public Sector Pension Investment Board now owns 73,471 shares of the company’s stock worth $4,109,000 after buying an additional 67,702 shares in the last quarter. UBS Group AG boosted its stake in Advance Auto Parts by 337.7% during the fourth quarter. UBS Group AG now owns 811,734 shares of the company’s stock worth $49,540,000 after buying an additional 626,294 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Advance Auto Parts by 28.9% during the third quarter. Rhumbline Advisers now owns 164,334 shares of the company’s stock worth $9,191,000 after buying an additional 36,872 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.
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
