Argus Boosts Advance Auto Parts (NYSE:AAP) Price Target to $177.00
Advance Auto Parts (NYSE:AAP) had its target price increased by Argus from $158.00 to $177.00 in a report released on Monday, The Fly reports. Argus currently has a buy rating on the stock.
Other analysts also recently issued research reports about the company. Nomura raised their price target on Advance Auto Parts from $107.00 to $130.00 in a report on Wednesday, May 20th. Goldman Sachs Group lifted their target price on Advance Auto Parts from $137.00 to $156.00 and gave the company a sell rating in a research note on Wednesday, August 19th. Morgan Stanley lifted their target price on Advance Auto Parts from $135.00 to $148.00 and gave the company an overweight rating in a research note on Thursday, May 21st. Jefferies Financial Group lifted their target price on Advance Auto Parts from $151.00 to $157.00 and gave the company a buy rating in a research note on Wednesday, May 20th. Finally, Cfra raised Advance Auto Parts to a buy rating in a research note on Friday, August 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Advance Auto Parts presently has an average rating of Hold and an average price target of $151.76.
Shares of NYSE AAP opened at $154.64 on Monday. Advance Auto Parts has a fifty-two week low of $71.33 and a fifty-two week high of $171.43. The business has a 50 day moving average price of $154.38 and a two-hundred day moving average price of $132.74. The company has a quick ratio of 0.46, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $10.88 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.79 and a beta of 1.35.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, September 17th. Advance Auto Parts’s payout ratio is 12.21%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC purchased a new position in shares of Advance Auto Parts during the second quarter valued at $28,000. Winslow Evans & Crocker Inc. acquired a new stake in Advance Auto Parts during the second quarter valued at $71,000. CSat Investment Advisory L.P. boosted its position in Advance Auto Parts by 42.7% during the first quarter. CSat Investment Advisory L.P. now owns 521 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Advance Auto Parts by 24.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 809 shares of the company’s stock valued at $75,000 after purchasing an additional 158 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new stake in Advance Auto Parts during the second quarter valued at $81,000. Institutional investors and hedge funds own 98.24% of the company’s stock.
Advance Auto Parts Company Profile
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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