Advance Auto Parts, Inc. (NYSE:AAP) Receives $48.40 Consensus PT from Brokerages

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have been given an average rating of “Hold” by the sixteen research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $48.40.

A number of equities analysts recently issued reports on AAP shares. UBS Group upped their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Wells Fargo & Company cut their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $48.14 on Friday. The company has a 50 day simple moving average of $41.89 and a two-hundred day simple moving average of $48.12. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 65.95 and a beta of 1.21. 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 (NYSE:AAP) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the business earned ($0.82) EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts expect that Advance Auto Parts will post -0.54 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.08%. Advance Auto Parts’s dividend payout ratio (DPR) is 136.99%.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC increased its holdings in Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after acquiring an additional 1,698,155 shares in the last quarter. Dorsal Capital Management LP boosted its position in shares of Advance Auto Parts by 159.7% in the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock worth $79,162,000 after purchasing an additional 768,664 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Advance Auto Parts by 76.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after purchasing an additional 547,696 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Advance Auto Parts during the 3rd quarter valued at $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Advance Auto Parts during the 3rd quarter valued at $14,684,000. Institutional investors 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.