Advance Auto Parts (NYSE:AAP) Given New $49.17 Price Target at Raymond James

Advance Auto Parts (NYSE:AAP - Free Report) had its price target upped by Raymond James to $49.17 in a research note published on Monday,Stock Target Advisor reports. They currently have a hold rating on the stock.

A number of other analysts have also issued reports on the stock. Morgan Stanley lifted their price objective on shares of 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. 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 note on Thursday, February 27th. Evercore ISI upped their price objective on shares of Advance Auto Parts from $35.00 to $45.00 and gave the company an "in-line" rating in a research report on Friday, May 23rd. The Goldman Sachs Group restated a "neutral" rating and set a $48.00 target price (up from $43.00) on shares of Advance Auto Parts in a research note on Thursday, May 22nd. Finally, Bank of America boosted their price target on Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Advance Auto Parts presently has a consensus rating of "Hold" and a consensus price target of $46.11.

Advance Auto Parts Stock Down 0.8%

Shares of NYSE:AAP traded down $0.37 during midday trading on Monday, hitting $47.99. 2,651,165 shares of the company's stock traded hands, compared to its average volume of 2,455,276. The firm's fifty day moving average price is $35.81 and its two-hundred day moving average price is $40.73. 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 twelve month low of $28.89 and a twelve month high of $71.09. The company has a market cap of $2.87 billion, a PE ratio of 65.74, a P/E/G ratio of 1.98 and a beta of 0.93.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.58 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The firm's quarterly revenue was down 24.2% on a year-over-year basis. On average, equities research analysts anticipate that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.04%.

Insider Buying and Selling

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, with a total value of $55,185.00. Following the acquisition, the chief executive officer now directly owns 183,121 shares of the company's stock, valued at $6,737,021.59. This represents a 0.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents a 75.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC raised its position in shares of Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after buying an additional 465 shares in the last quarter. Allworth Financial LP raised its holdings in Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after purchasing an additional 818 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Advance Auto Parts in the fourth quarter worth approximately $42,000. Advisory Services Network LLC bought a new position in Advance Auto Parts during the 4th quarter valued at $46,000. Finally, Financial Management Professionals Inc. acquired a new position in shares of Advance Auto Parts during the 1st quarter valued at $49,000. Institutional investors and hedge funds own 88.75% of the company's stock.

About Advance Auto Parts

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.