Shares of Advance Auto Parts, Inc. (NYSE:AAP) have been assigned a consensus recommendation of “Hold” from the twenty-four ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $143.11.
AAP has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Advance Auto Parts from $140.00 to $158.00 and gave the company an “overweight” rating in a research report on Friday, June 15th. Zacks Investment Research raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $162.00 target price on the stock in a research note on Tuesday, July 24th. Wedbush decreased their target price on shares of Advance Auto Parts from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 9th. Stephens reaffirmed a “hold” rating and set a $130.00 target price on shares of Advance Auto Parts in a research note on Friday, July 13th. Finally, Argus set a $155.00 target price on shares of Advance Auto Parts and gave the stock a “buy” rating in a research note on Friday, July 6th.
AAP traded up $0.06 during trading on Friday, hitting $167.28. 761,933 shares of the stock traded hands, compared to its average volume of 1,152,429. Advance Auto Parts has a twelve month low of $78.81 and a twelve month high of $170.91. The company has a market cap of $12.37 billion, a P/E ratio of 31.25, a P/E/G ratio of 2.24 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.63 and a quick ratio of 0.48.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, August 14th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.86 by $0.11. Advance Auto Parts had a net margin of 5.68% and a return on equity of 13.43%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. analysts expect that Advance Auto Parts will post 6.94 earnings per share for the current fiscal year.
Advance Auto Parts announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 14th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Friday, September 21st will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 20th. This represents a $0.24 annualized dividend and a dividend yield of 0.14%. Advance Auto Parts’s dividend payout ratio is 4.47%.
In other Advance Auto Parts news, Director Nigel Travis acquired 1,250 shares of Advance Auto Parts stock in a transaction that occurred on Friday, August 17th. The shares were bought at an average price of $159.70 per share, with a total value of $199,625.00. Following the completion of the purchase, the director now directly owns 1,250 shares in the company, valued at approximately $199,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Advance Auto Parts by 3.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,578 shares of the company’s stock valued at $2,928,000 after buying an additional 779 shares during the period. Wells Fargo & Company MN lifted its holdings in Advance Auto Parts by 12.0% in the second quarter. Wells Fargo & Company MN now owns 1,091,006 shares of the company’s stock valued at $148,049,000 after buying an additional 116,655 shares during the period. Piedmont Investment Advisors LLC acquired a new position in Advance Auto Parts in the second quarter valued at $116,000. Principal Financial Group Inc. lifted its holdings in Advance Auto Parts by 2.1% in the first quarter. Principal Financial Group Inc. now owns 111,312 shares of the company’s stock valued at $13,196,000 after buying an additional 2,294 shares during the period. Finally, Allen Investment Management LLC lifted its holdings in Advance Auto Parts by 52.1% in the second quarter. Allen Investment Management LLC now owns 790,508 shares of the company’s stock valued at $107,272,000 after buying an additional 270,641 shares during the period.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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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