BMO Capital Markets reiterated their market perform rating on shares of Advance Auto Parts (NYSE:AAP - Free Report) in a research report released on Friday morning, Marketbeat reports. BMO Capital Markets currently has a $50.00 target price on the stock, up from their previous target price of $40.00.
AAP has been the topic of several other reports. Truist Financial dropped their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Wedbush reiterated an "outperform" rating and set a $55.00 price objective on shares of Advance Auto Parts in a research report on Monday, March 3rd. Citigroup decreased their price objective on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Morgan Stanley boosted their price objective on Advance Auto Parts from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Finally, Wells Fargo & Company set a $35.00 price objective on shares of Advance Auto Parts and gave the company an "equal weight" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $45.90.
Read Our Latest Stock Report on Advance Auto Parts
Advance Auto Parts Trading Up 5.2%
NYSE:AAP traded up $2.56 on Friday, hitting $52.16. 3,908,930 shares of the stock were exchanged, compared to its average volume of 2,459,950. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts has a 52 week low of $28.89 and a 52 week high of $71.62. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 71.53, a P/E/G ratio of 1.98 and a beta of 0.93. The company's 50-day moving average price is $35.10 and its 200 day moving average price is $40.53.
Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.51 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business's quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. On average, equities research analysts forecast that Advance Auto Parts will post -0.46 earnings per share for the current year.
Advance Auto Parts Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.04%.
Insider Activity at Advance Auto Parts
In related news, CEO Shane M. Okelly bought 1,500 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. This represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the business's stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the purchase, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. This represents a 75.35% increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eminence Capital LP acquired a new stake in Advance Auto Parts in the 4th quarter worth about $87,214,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Advance Auto Parts by 34.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock valued at $316,160,000 after purchasing an additional 1,706,328 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new stake in Advance Auto Parts in the 4th quarter valued at $75,055,000. Marshall Wace LLP raised its position in Advance Auto Parts by 2,585.1% in the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company's stock valued at $64,026,000 after purchasing an additional 1,303,488 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Advance Auto Parts by 2,662.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock valued at $61,156,000 after buying an additional 1,246,384 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.
Advance Auto Parts Company Profile
(
Get Free Report)
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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