Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) have been given a consensus rating of “Moderate Buy” by the nineteen analysts that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $235.00.
Several research firms have commented on AAP. Truist Financial decreased their price target on shares of Advance Auto Parts from $238.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, August 25th. UBS Group cut their price objective on shares of Advance Auto Parts from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 24th. Morgan Stanley cut their price objective on shares of Advance Auto Parts from $225.00 to $205.00 and set an “equal weight” rating on the stock in a report on Thursday, August 25th. Raymond James cut their price objective on shares of Advance Auto Parts from $220.00 to $210.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 20th. Finally, Royal Bank of Canada cut their price objective on shares of Advance Auto Parts from $217.00 to $199.00 in a report on Thursday, August 25th.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Advance Auto Parts by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after acquiring an additional 261,715 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Advance Auto Parts by 3.6% in the 1st quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock worth $685,801,000 after acquiring an additional 114,789 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Advance Auto Parts by 22.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock worth $456,297,000 after acquiring an additional 482,858 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Advance Auto Parts by 16.1% in the 1st quarter. American Century Companies Inc. now owns 1,676,374 shares of the company’s stock worth $346,943,000 after acquiring an additional 232,904 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Advance Auto Parts by 1.2% in the 1st quarter. Champlain Investment Partners LLC now owns 1,642,607 shares of the company’s stock worth $339,954,000 after acquiring an additional 19,604 shares during the last quarter. Hedge funds and other institutional investors own 99.47% of the company’s stock.
Advance Auto Parts Stock Up 1.6 %
Shares of AAP opened at $186.39 on Friday. The firm has a market capitalization of $11.21 billion, a P/E ratio of 21.62, a P/E/G ratio of 1.08 and a beta of 1.27. Advance Auto Parts has a 12-month low of $154.46 and a 12-month high of $244.55. The company has a current ratio of 1.16, a quick ratio of 0.25 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average price of $173.04 and a 200-day moving average price of $183.57.
Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $3.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.74. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.75 billion. Advance Auto Parts had a net margin of 4.84% and a return on equity of 25.99%. During the same period in the prior year, the firm earned $3.40 earnings per share. Equities research analysts expect that Advance Auto Parts will post 12.98 earnings per share for the current year.
Advance Auto Parts Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $1.50 dividend. The ex-dividend date was Thursday, September 15th. This represents a $6.00 dividend on an annualized basis and a yield of 3.22%. Advance Auto Parts’s payout ratio is currently 69.61%.
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.
Further Reading
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