Raymond James Financial, Inc. reiterated their market perform rating on shares of Advance Auto Parts Inc (NYSE:AAP) in a research report report published on Wednesday morning.

AAP has been the topic of a number of other research reports. Maxim Group reissued a buy rating on shares of Advance Auto Parts in a report on Thursday, June 29th. Jefferies Group LLC raised their price objective on shares of Advance Auto Parts to $150.00 and gave the stock a hold rating in a report on Wednesday, June 28th. Citigroup Inc. dropped their price objective on shares of Advance Auto Parts to $99.00 and set a neutral rating on the stock in a report on Wednesday, August 16th. UBS AG reissued a buy rating and issued a $118.00 price objective (down previously from $155.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. Finally, Barclays PLC reissued an equal weight rating and issued a $90.00 price objective (down previously from $93.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. Advance Auto Parts presently has an average rating of Hold and an average target price of $118.79.

Advance Auto Parts (AAP) traded down 0.63% on Wednesday, reaching $94.33. 2,050,805 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $96.26 and its 200 day moving average price is $120.87. The company has a market cap of $6.97 billion, a PE ratio of 18.83 and a beta of 0.92. 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 announced its quarterly 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 the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, analysts expect that Advance Auto Parts will post $5.17 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, September 21st. Advance Auto Parts’s payout ratio is currently 4.80%.

Several institutional investors have recently added to or reduced their stakes in AAP. Sentry Investment Management LLC increased its position in Advance Auto Parts by 40.3% in the second quarter. Sentry Investment Management LLC now owns 5,473 shares of the company’s stock worth $638,000 after purchasing an additional 1,572 shares during the last quarter. Toronto Dominion Bank increased its position in Advance Auto Parts by 25.3% in the second quarter. Toronto Dominion Bank now owns 25,279 shares of the company’s stock worth $2,947,000 after purchasing an additional 5,109 shares during the last quarter. Rikoon Group LLC increased its position in Advance Auto Parts by 6.0% in the second quarter. Rikoon Group LLC now owns 6,698 shares of the company’s stock worth $781,000 after purchasing an additional 381 shares during the last quarter. Verition Fund Management LLC increased its position in Advance Auto Parts by 2.9% in the second quarter. Verition Fund Management LLC now owns 6,574 shares of the company’s stock worth $766,000 after purchasing an additional 184 shares during the last quarter. Finally, Intellectus Partners LLC increased its position in Advance Auto Parts by 39.7% in the second quarter. Intellectus Partners LLC now owns 4,260 shares of the company’s stock worth $497,000 after purchasing an additional 1,210 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.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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