Advance Auto Parts Inc (AAP) PT Lowered to $106.00
Advance Auto Parts Inc (NYSE:AAP) had its target price reduced by J P Morgan Chase & Co to $106.00 in a research note published on Wednesday morning, The Fly reports. They currently have an overweight rating on the stock.
AAP has been the topic of a number of other research reports. Oppenheimer Holdings, Inc. restated a hold rating on shares of Advance Auto Parts in a research note on Wednesday, May 24th. Royal Bank Of Canada lowered their target price on Advance Auto Parts from $153.00 to $125.00 and set a sector perform rating on the stock in a research note on Thursday, July 6th. Wedbush restated an outperform rating on shares of Advance Auto Parts in a research note on Thursday, July 6th. UBS AG restated a buy rating and issued a $170.00 target price (down previously from $180.00) on shares of Advance Auto Parts in a research note on Thursday, May 25th. Finally, Morgan Stanley restated an overweight rating and issued a $125.00 target price (down previously from $160.00) on shares of Advance Auto Parts in a research note on Thursday, July 6th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $126.68.
Advance Auto Parts (NYSE AAP) opened at 93.26 on Wednesday. The stock’s 50 day moving average price is $105.08 and its 200-day moving average price is $135.28. The stock has a market capitalization of $6.89 billion, a PE ratio of 18.62 and a beta of 0.87. Advance Auto Parts has a 52-week low of $82.21 and a 52-week high of $177.83.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by $0.07. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the company earned $1.90 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts expect that Advance Auto Parts will post $5.26 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.
In other news, Director Brad W. Buss bought 1,200 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average price of $134.47 per share, for a total transaction of $161,364.00. Following the completion of the transaction, the director now directly owns 1,928 shares in the company, valued at approximately $259,258.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Adriana Karaboutis bought 367 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was purchased at an average price of $135.28 per share, for a total transaction of $49,647.76. Following the transaction, the director now owns 3,043 shares of the company’s stock, valued at $411,657.04. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 369,462 shares of company stock worth $49,617,073. Company insiders own 4.50% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock valued at $640,524,000 after buying an additional 4,187,042 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Advance Auto Parts by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock valued at $464,848,000 after buying an additional 983,616 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Advance Auto Parts by 6,616.2% in the second quarter. Neuberger Berman Group LLC now owns 903,258 shares of the company’s stock valued at $105,311,000 after buying an additional 889,809 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in Advance Auto Parts by 279.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,147,414 shares of the company’s stock valued at $133,777,000 after buying an additional 845,130 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Advance Auto Parts by 193.0% in the second quarter. Bessemer Group Inc. now owns 1,207,206 shares of the company’s stock valued at $140,748,000 after buying an additional 795,132 shares in the last quarter.
About Advance Auto Parts
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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