Morgan Stanley Reiterates Overweight Rating for Advance Auto Parts Inc (AAP)
A number of other brokerages have also issued reports on AAP. BidaskClub upgraded Advance Auto Parts from a strong sell rating to a sell rating in a research report on Monday, July 31st. UBS AG reiterated a buy rating and set a $155.00 target price (down previously from $170.00) on shares of Advance Auto Parts in a research report on Monday, August 7th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Advance Auto Parts in a report on Tuesday, August 15th. Deutsche Bank AG restated a buy rating and issued a $139.00 price objective (down previously from $164.00) on shares of Advance Auto Parts in a report on Friday, July 21st. Finally, Citigroup Inc. lowered Advance Auto Parts from a strong-buy rating to a market perform rating 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 issued a buy rating to the stock. Advance Auto Parts currently has a consensus rating of Hold and an average target price of $104.89.
Advance Auto Parts (NYSE AAP) opened at $89.27 on Wednesday. Advance Auto Parts has a 52-week low of $78.81 and a 52-week high of $177.83. The stock has a market capitalization of $6,596.87, a P/E ratio of 15.91, a PEG ratio of 1.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 1.52.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.18. Advance Auto Parts had a return on equity of 13.51% and a net margin of 3.75%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm posted $1.73 EPS. The business’s revenue was down 3.0% on a year-over-year basis. analysts expect 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. Investors of record on Friday, December 22nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Thursday, December 21st. Advance Auto Parts’s payout ratio is 5.03%.
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Advance Auto Parts by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,966,176 shares of the company’s stock worth $812,186,000 after purchasing an additional 185,970 shares during the last quarter. BlackRock Inc. increased its position in shares of Advance Auto Parts by 25.6% during the 2nd quarter. BlackRock Inc. now owns 5,425,799 shares of the company’s stock worth $632,593,000 after purchasing an additional 1,105,519 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Advance Auto Parts by 172.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,922,315 shares of the company’s stock worth $289,894,000 after purchasing an additional 1,849,808 shares during the last quarter. American Century Companies Inc. increased its position in shares of Advance Auto Parts by 20.5% during the 3rd quarter. American Century Companies Inc. now owns 2,535,220 shares of the company’s stock worth $251,494,000 after purchasing an additional 430,733 shares during the last quarter. Finally, Scharf Investments LLC increased its position in shares of Advance Auto Parts by 9.7% during the 3rd quarter. Scharf Investments LLC now owns 1,692,559 shares of the company’s stock worth $167,901,000 after purchasing an additional 149,741 shares during 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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