Advance Auto Parts Inc (AAP) Cut to Sell at Citigroup Inc.
Citigroup Inc. lowered shares of Advance Auto Parts Inc (NYSE:AAP) from a neutral rating to a sell rating in a research note released on Tuesday, Marketbeat.com reports. Citigroup Inc. currently has $82.00 price objective on the stock, down from their prior price objective of $99.00.
AAP has been the topic of several other reports. Bank of America Corporation reissued an underperform rating and set a $87.50 price objective on shares of Advance Auto Parts in a research note on Tuesday, September 5th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Advance Auto Parts in a research note on Wednesday, May 24th. Royal Bank Of Canada reduced their price objective 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 reissued an outperform rating on shares of Advance Auto Parts in a research note on Thursday, July 6th. Finally, UBS AG reissued a buy rating and set a $170.00 price objective (down from $180.00) on shares of Advance Auto Parts in a research note on Thursday, May 25th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of Hold and a consensus target price of $123.08.
Advance Auto Parts (NYSE AAP) opened at 99.51 on Tuesday. Advance Auto Parts has a 52-week low of $82.21 and a 52-week high of $177.83. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 19.87 and a beta of 0.90. The company’s 50-day moving average price is $100.43 and its 200 day moving average price is $126.42.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. On average, equities analysts expect that Advance Auto Parts will post $5.17 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.24%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 4.80%.
A number of large investors have recently made changes to their positions in AAP. IFP Advisors Inc grew its stake in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after purchasing an additional 24 shares in the last quarter. Tobam bought a new position in Advance Auto Parts in the second quarter worth approximately $118,000. QS Investors LLC grew its stake in Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after purchasing an additional 9 shares in the last quarter. Huntington National Bank grew its stake in Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after purchasing an additional 283 shares in the last quarter. Finally, Global X Management Co. LLC grew its stake in Advance Auto Parts by 14.3% in the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after purchasing an additional 139 shares in the last quarter.
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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