Advance Auto Parts Inc (AAP) Given “Outperform” Rating at Credit Suisse Group
Credit Suisse Group restated their outperform rating on shares of Advance Auto Parts Inc (NYSE:AAP) in a report issued on Monday morning. The firm currently has a $135.00 target price on the stock, down from their prior target price of $150.00.
Other research analysts have also recently issued reports about the company. Barclays PLC reiterated a sell rating and issued a $120.00 price objective on shares of Advance Auto Parts in a report on Friday, May 26th. UBS AG reiterated a buy rating and issued a $170.00 price objective (down from $180.00) on shares of Advance Auto Parts in a report on Thursday, May 25th. Bank of America Corporation decreased their price objective on Advance Auto Parts from $160.00 to $150.00 and set a neutral rating on the stock in a report on Thursday, May 25th. Royal Bank Of Canada decreased their price objective on Advance Auto Parts from $168.00 to $153.00 and set an outperform rating on the stock in a report on Thursday, May 25th. Finally, TheStreet lowered Advance Auto Parts from a b rating to a c+ rating in a research report on Monday, March 27th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $151.41.
Shares of Advance Auto Parts (AAP) opened at 103.23 on Monday. The stock has a 50 day moving average price of $118.01 and a 200 day moving average price of $144.60. The stock has a market capitalization of $7.62 billion, a P/E ratio of 18.70 and a beta of 0.88. Advance Auto Parts has a one year low of $99.13 and a one year high of $177.83.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Wednesday, May 24th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by $0.60. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the company posted $2.51 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. Equities analysts forecast that Advance Auto Parts will post $6.42 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 23rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio is currently 4.36%.
In other Advance Auto Parts news, Director Adriana Karaboutis bought 367 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were purchased at an average price of $135.28 per share, with a total value of $49,647.76. Following the completion of the acquisition, the director now directly owns 3,043 shares of the company’s stock, valued at approximately $411,657.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugene I. Lee, Jr. bought 1,895 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average cost of $132.18 per share, for a total transaction of $250,481.10. Following the acquisition, the director now directly owns 4,398 shares of the company’s stock, valued at $581,327.64. The disclosure for this purchase can be found here. Insiders purchased 369,462 shares of company stock worth $49,617,073 in the last three months. 4.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Advance Auto Parts during the fourth quarter valued at approximately $11,661,000. Thrivent Financial for Lutherans raised its position in Advance Auto Parts by 5.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,550 shares of the company’s stock valued at $431,000 after buying an additional 130 shares during the period. Quadrature Capital Ltd acquired a new position in Advance Auto Parts during the fourth quarter valued at approximately $715,000. Kentucky Retirement Systems acquired a new position in Advance Auto Parts during the fourth quarter valued at approximately $904,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Advance Auto Parts during the fourth quarter valued at approximately $403,000.
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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