Wedbush reiterated their outperform rating on shares of Advance Auto Parts (NYSE:AAP) in a report released on Thursday, RTT News reports. The brokerage currently has a $200.00 price objective on the stock.
Several other equities research analysts have also recently issued reports on the stock. Northcoast Research reissued a neutral rating on shares of Advance Auto Parts in a research report on Thursday, June 27th. Zacks Investment Research downgraded German American Bancorp. from a buy rating to a hold rating in a report on Tuesday, April 30th. William Blair restated an outperform rating on shares of Advance Auto Parts in a report on Wednesday, May 22nd. ValuEngine upgraded China Southern Airlines from a sell rating to a hold rating in a research note on Tuesday, June 11th. Finally, Evercore ISI started coverage on Polarityte in a report on Wednesday, March 20th. They issued an outperform rating and a $26.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $189.33.
Shares of AAP stock opened at $158.58 on Thursday. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90. The company’s 50 day simple moving average is $155.26. Advance Auto Parts has a 52-week low of $138.67 and a 52-week high of $186.15. The company has a current ratio of 1.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.79.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.10. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.94 billion. Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 EPS. On average, analysts anticipate that Advance Auto Parts will post 8.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 21st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, June 20th. Advance Auto Parts’s dividend payout ratio is 3.37%.
Several large investors have recently bought and sold shares of the business. Nelson Roberts Investment Advisors LLC bought a new stake in Advance Auto Parts in the 1st quarter valued at $40,000. Pinnacle Financial Partners Inc. bought a new position in shares of Advance Auto Parts in the first quarter valued at approximately $43,000. Zions Bancorporation N.A. increased its position in shares of Advance Auto Parts by 258.9% during the first quarter. Zions Bancorporation N.A. now owns 402 shares of the company’s stock valued at $69,000 after acquiring an additional 290 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in Advance Auto Parts in the first quarter worth $81,000. Finally, Meridian Wealth Management LLC bought a new stake in Advance Auto Parts during the first quarter valued at $85,000. 98.87% of the stock is currently 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.
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