Advance Auto Parts (NYSE:AAP) Stock Price Expected to Rise, Raymond James Analyst Says

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

Several other analysts have also recently commented on the company. Morgan Stanley raised their price target on Advance Auto Parts from $45.00 to $48.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Evercore ISI raised their target price on Advance Auto Parts from $35.00 to $45.00 and gave the company an "in-line" rating in a report on Friday, May 23rd. Cowen restated a "hold" rating on shares of Advance Auto Parts in a research report on Friday, May 23rd. Royal Bank of Canada lowered their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson raised their price objective on shares of Advance Auto Parts from $45.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $46.11.

Advance Auto Parts Stock Performance

Advance Auto Parts stock traded up $3.15 during trading hours on Monday, reaching $52.75. 6,726,221 shares of the stock were exchanged, compared to its average volume of 2,470,454. Advance Auto Parts has a 52-week low of $28.89 and a 52-week high of $71.09. The stock has a market cap of $3.16 billion, a P/E ratio of 72.26, a P/E/G ratio of 1.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The firm's 50 day moving average is $35.41 and its 200 day moving average is $40.62.

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

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's dividend payout ratio is presently -17.04%.

Insider Buying and Selling at Advance Auto Parts

In other news, CEO Shane M. Okelly acquired 1,500 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the purchase, the chief executive officer now owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. This represents a 0.83% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, with a total value of $499,956.00. Following the transaction, the director now owns 34,070 shares of the company's stock, valued at approximately $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 insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in shares of Advance Auto Parts by 58.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 19,689 shares of the company's stock valued at $931,000 after buying an additional 7,285 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Advance Auto Parts by 57.2% in the 4th quarter. SG Americas Securities LLC now owns 8,603 shares of the company's stock worth $407,000 after acquiring an additional 3,130 shares during the period. Blue Trust Inc. grew its position in Advance Auto Parts by 75.9% in the fourth quarter. Blue Trust Inc. now owns 2,119 shares of the company's stock valued at $100,000 after acquiring an additional 914 shares in the last quarter. KBC Group NV lifted its position in shares of Advance Auto Parts by 51.6% during the fourth quarter. KBC Group NV now owns 2,651 shares of the company's stock worth $125,000 after purchasing an additional 902 shares in the last quarter. Finally, OLD National Bancorp IN acquired a new position in shares of Advance Auto Parts during the fourth quarter worth $312,000. 88.75% of the stock is owned by institutional investors and hedge funds.

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.