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Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) have been assigned an average rating of “Hold” from the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $188.73.
Several brokerages recently weighed in on AAP. Wedbush reduced their price target on Advance Auto Parts from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 16th. Stephens dropped their price objective on Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating on the stock in a research report on Monday, November 21st. UBS Group downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating and lowered their target price for the company from $230.00 to $182.00 in a report on Wednesday, November 16th. Argus lowered their target price on Advance Auto Parts from $220.00 to $185.00 in a report on Monday, December 5th. Finally, Raymond James decreased their price objective on Advance Auto Parts from $210.00 to $200.00 and set a “strong-buy” rating on the stock in a research note on Thursday, November 17th.
Institutional Investors Weigh In On Advance Auto Parts
Several hedge funds and other institutional investors have recently made changes to their positions in AAP. B. Riley Wealth Advisors Inc. boosted its position in shares of Advance Auto Parts by 18.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,556 shares of the company’s stock worth $244,000 after buying an additional 244 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Advance Auto Parts during the third quarter worth about $916,000. Seaport Global Advisors LLC increased its position in shares of Advance Auto Parts by 53.2% during the third quarter. Seaport Global Advisors LLC now owns 461 shares of the company’s stock worth $72,000 after purchasing an additional 160 shares in the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Advance Auto Parts by 10.4% during the third quarter. VisionPoint Advisory Group LLC now owns 3,740 shares of the company’s stock worth $585,000 after buying an additional 352 shares during the last quarter. Finally, Advisors Capital Management LLC grew its holdings in shares of Advance Auto Parts by 14.3% during the third quarter. Advisors Capital Management LLC now owns 56,931 shares of the company’s stock worth $10,463,000 after buying an additional 7,139 shares during the last quarter. Institutional investors and hedge funds own 96.04% of the company’s stock.
Advance Auto Parts Stock Up 0.5 %
Shares of AAP opened at $147.03 on Monday. The firm has a market cap of $8.84 billion, a P/E ratio of 18.90, a P/E/G ratio of 0.93 and a beta of 1.17. The stock has a 50 day simple moving average of $159.40 and a two-hundred day simple moving average of $172.22. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.23. Advance Auto Parts has a 1 year low of $138.52 and a 1 year high of $244.55.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Tuesday, November 15th. The company reported $2.84 earnings per share for the quarter, missing the consensus estimate of $3.32 by ($0.48). Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.66 billion. On average, analysts forecast that Advance Auto Parts will post 12.6 earnings per share for the current fiscal year.
Advance Auto Parts Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th will be issued a dividend of $1.50 per share. The ex-dividend date is Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.08%. Advance Auto Parts’s payout ratio is currently 77.12%.
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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