Advance Auto Parts (NYSE:AAP) Stock Price Target Raised at JPMorgan Chase & Co.

Advance Auto Parts (NYSE:AAP) had its price objective lifted by JPMorgan Chase & Co. from $55.00 to $57.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also weighed in on the company. TD Cowen decreased their price objective on Advance Auto Parts from $61.00 to $45.00 and set a “hold” rating on the stock in a report on Thursday, August 20th. Mizuho set a $50.00 target price on Advance Auto Parts in a research note on Friday. Royal Bank Of Canada raised their target price on Advance Auto Parts from $49.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Friday. Wells Fargo & Company decreased their price target on shares of Advance Auto Parts from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Friday, August 21st. Finally, Truist Financial set a $43.00 price target on shares of Advance Auto Parts and gave the stock a “hold” rating in a research note on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and an average price target of $47.39.

Advance Auto Parts Stock Up 0.4%

AAP stock opened at $45.67 on Friday. Advance Auto Parts has a twelve month low of $37.89 and a twelve month high of $65.20. The company has a quick ratio of 0.80, a current ratio of 1.63 and a debt-to-equity ratio of 1.34. The company has a market cap of $2.76 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.02. The business’s 50-day simple moving average is $43.30 and its 200 day simple moving average is $51.73.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Advance Auto Parts had a return on equity of 9.41% and a net margin of 1.16%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts anticipate that Advance Auto Parts will post 2.94 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 22nd. Investors of record on Friday, January 8th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, January 8th. Advance Auto Parts’s dividend payout ratio is 60.98%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Advance Auto Parts during the second quarter worth $581,909,000. Pzena Investment Management LLC bought a new position in shares of Advance Auto Parts during the second quarter valued at $273,115,000. Maple Rock Capital Partners Inc. lifted its holdings in shares of Advance Auto Parts by 86.5% during the second quarter. Maple Rock Capital Partners Inc. now owns 2,421,040 shares of the company’s stock valued at $150,637,000 after acquiring an additional 1,122,900 shares during the period. Bank of America Corp DE bought a new position in shares of Advance Auto Parts during the second quarter valued at $59,626,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Advance Auto Parts in the 2nd quarter valued at $29,860,000. Institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc is a retailer of automotive aftermarket parts, accessories and maintenance products. Its offerings include replacement parts, batteries, tools, fluids and other supplies for a range of vehicles.

The company serves both do-it-yourself customers and professional automotive repair shops through its stores, online channels and network of independent locations. Its retail banners include Advance Auto Parts and Carquest.

Advance Auto Parts traces its roots to 1932, when the business began in Roanoke, Virginia.