Advance Auto Parts (NYSE:AAP) Price Target Raised to $52.00

Advance Auto Parts (NYSE:AAP - Free Report) had its target price increased by Evercore ISI from $50.00 to $52.00 in a report released on Tuesday,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group downgraded Advance Auto Parts from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $48.00 to $46.00 in a research note on Tuesday. Cowen restated a "hold" rating on shares of Advance Auto Parts in a research report on Friday, May 23rd. Wall Street Zen raised Advance Auto Parts from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Raymond James Financial increased their price target on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research note on Monday, May 26th. Finally, Citigroup cut their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Advance Auto Parts presently has an average rating of "Hold" and an average target price of $46.25.

Advance Auto Parts Stock Up 0.1%

Shares of AAP stock traded up $0.03 during mid-day trading on Tuesday, reaching $46.31. 1,836,498 shares of the company were exchanged, compared to its average volume of 2,513,076. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The business's 50 day simple moving average is $41.64 and its 200 day simple moving average is $41.77. The company has a market capitalization of $2.78 billion, a P/E ratio of -7.88 and a beta of 1.06. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $64.92.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.59. The firm had revenue of $2.58 billion for the quarter, compared to analysts' expectations of $2.51 billion. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. Advance Auto Parts's revenue for the quarter was down 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Research analysts predict that Advance Auto Parts will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given 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 2.16%. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.04%.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the transaction, the senior vice president now directly owns 9,876 shares of the company's stock, valued at $479,183.52. This represents a 8.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAP. Annandale Capital LLC increased its stake in shares of Advance Auto Parts by 46.6% in the fourth quarter. Annandale Capital LLC now owns 109,241 shares of the company's stock worth $5,166,000 after purchasing an additional 34,746 shares during the period. Raymond James Financial Inc. acquired a new position in Advance Auto Parts in the fourth quarter valued at approximately $8,822,000. Commonwealth Equity Services LLC boosted its stake in Advance Auto Parts by 97.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company's stock valued at $14,453,000 after acquiring an additional 150,604 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Advance Auto Parts during the 4th quarter worth $34,586,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Advance Auto Parts by 18.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,919 shares of the company's stock valued at $30,735,000 after acquiring an additional 100,445 shares during the last quarter. Institutional investors own 88.75% of the company's stock.

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.