Advance Auto Parts Inc (NYSE:AAP) had its price objective hoisted by Royal Bank Of Canada from $100.00 to $109.00 in a research report report published on Wednesday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the stock.
A number of other analysts have also weighed in on the stock. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Advance Auto Parts in a report on Tuesday, November 14th. Morgan Stanley upped their target price on shares of Advance Auto Parts from $92.00 to $100.00 and gave the stock an overweight rating in a report on Wednesday, November 8th. BTIG Research reaffirmed a sell rating and set a $75.00 target price (down previously from $90.00) on shares of Advance Auto Parts in a report on Wednesday, October 25th. Zacks Investment Research raised shares of Advance Auto Parts from a strong sell rating to a hold rating in a report on Tuesday, October 17th. Finally, Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Advance Auto Parts in a report on Wednesday, October 4th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $104.89.
Shares of Advance Auto Parts (AAP) opened at $89.27 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 1.52. The firm has a market cap of $6,596.87, a P/E ratio of 15.91, a P/E/G ratio of 1.61 and a beta of 0.90. Advance Auto Parts has a twelve month low of $78.81 and a twelve month high of $177.83.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.18. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.21 billion. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. Advance Auto Parts’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 EPS. analysts forecast that Advance Auto Parts will post 5.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be paid a $0.06 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. Advance Auto Parts’s dividend payout ratio (DPR) is 5.03%.
Several institutional investors have recently made changes to their positions in the company. Billings Capital Management LLC purchased a new stake in shares of Advance Auto Parts in the 3rd quarter valued at $19,331,000. TT International boosted its position in Advance Auto Parts by 134.4% during the 3rd quarter. TT International now owns 33,184 shares of the company’s stock valued at $3,291,000 after buying an additional 19,025 shares during the period. Dean Investment Associates LLC boosted its position in Advance Auto Parts by 25.1% during the 3rd quarter. Dean Investment Associates LLC now owns 6,258 shares of the company’s stock valued at $621,000 after buying an additional 1,257 shares during the period. Neuberger Berman Group LLC boosted its position in Advance Auto Parts by 48.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,339,056 shares of the company’s stock valued at $132,834,000 after buying an additional 435,798 shares during the period. Finally, California Public Employees Retirement System boosted its position in Advance Auto Parts by 4.0% during the 3rd quarter. California Public Employees Retirement System now owns 172,961 shares of the company’s stock valued at $17,158,000 after buying an additional 6,578 shares during the period.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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