Advance Auto Parts Inc (AAP) Shares Gap Down to $98.98
Advance Auto Parts Inc (NYSE:AAP) shares gapped down prior to trading on Wednesday . The stock had previously closed at $102.92, but opened at $98.98. Advance Auto Parts shares last traded at $94.93, with a volume of 2,780,255 shares.
A number of research analysts have recently commented on AAP shares. Gabelli restated a “buy” rating on shares of Advance Auto Parts in a report on Wednesday, August 16th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Advance Auto Parts in a research note on Tuesday, September 12th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $139.00 price objective (down from $164.00) on shares of Advance Auto Parts in a research note on Friday, July 21st. BidaskClub lowered shares of Advance Auto Parts from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Finally, UBS AG reaffirmed a “buy” rating and issued a $118.00 price objective (down from $155.00) on shares of Advance Auto Parts in a research note 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 given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $118.79.
The company’s 50 day moving average is $96.26 and its 200-day moving average is $120.87. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 18.95 and a beta of 0.92.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.07). The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.90 EPS. On average, equities research analysts predict that Advance Auto Parts Inc will post $5.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, September 21st. Advance Auto Parts’s payout ratio is 4.80%.
A number of hedge funds have recently bought and sold shares of AAP. Tobam purchased a new stake in Advance Auto Parts during the second quarter worth approximately $118,000. QS Investors LLC lifted its stake in Advance Auto Parts by 0.9% during 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 during the last quarter. Huntington National Bank lifted its stake in Advance Auto Parts by 37.1% during 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 during the last quarter. Global X Management Co. LLC lifted its stake in Advance Auto Parts by 14.3% during 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 during the last quarter. Finally, IFP Advisors Inc lifted its stake in Advance Auto Parts by 57.5% during the second quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock worth $141,000 after purchasing an additional 441 shares during the last quarter.
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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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