Advance Auto Parts (NYSE:AAP) Stock Price Expected to Rise, Mizuho Analyst Says

Advance Auto Parts (NYSE:AAP) had its price objective hoisted by Mizuho from $38.00 to $44.00 in a research note released on Thursday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

AAP has been the subject of several other research reports. Morgan Stanley raised their target price on shares of Advance Auto Parts from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Wall Street Zen lowered shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Sunday, June 29th. Roth Capital set a $50.00 price target on shares of Advance Auto Parts and gave the company a “neutral” rating in a research report on Wednesday, May 28th. UBS Group restated a “neutral” rating and set a $50.00 price target (up previously from $36.00) on shares of Advance Auto Parts in a research report on Friday, May 23rd. Finally, Evercore ISI raised their price target on shares of Advance Auto Parts from $50.00 to $52.00 and gave the company an “in-line” rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus price target of $46.53.

Advance Auto Parts Trading Up 4.2%

NYSE AAP opened at $51.08 on Thursday. The company has a fifty day simple moving average of $43.59 and a two-hundred day simple moving average of $41.93. The stock has a market cap of $3.06 billion, a P/E ratio of -8.70 and a beta of 1.04. Advance Auto Parts has a 12-month low of $28.89 and a 12-month high of $64.92. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the company posted $0.67 earnings per share. The firm’s revenue was down 24.2% compared to the same quarter last year. On average, analysts forecast that Advance Auto Parts will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts’s dividend payout ratio (DPR) is -17.04%.

Insider Activity

In other news, SVP Jason Hand sold 948 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $48.52, for a total value of $45,996.96. Following the sale, the senior vice president directly owned 9,876 shares of the company’s stock, valued at approximately $479,183.52. The trade was a 8.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC grew its holdings in shares of Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $28,000 after purchasing an additional 465 shares in the last quarter. Vision Financial Markets LLC acquired a new position in shares of Advance Auto Parts in the fourth quarter valued at approximately $42,000. Advisory Services Network LLC acquired a new position in shares of Advance Auto Parts in the fourth quarter valued at approximately $46,000. Financial Management Professionals Inc. acquired a new position in shares of Advance Auto Parts in the first quarter valued at approximately $49,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Advance Auto Parts by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company’s stock valued at $91,000 after purchasing an additional 2,140 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

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.