Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) has been assigned a consensus rating of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $161.00.
A number of analysts have commented on the stock. Argus lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. Raymond James decreased their price target on shares of Advance Auto Parts from $200.00 to $180.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 1st. Morgan Stanley decreased their price target on shares of Advance Auto Parts from $165.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 1st. Stephens decreased their price target on shares of Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating for the company in a research note on Monday, November 21st. Finally, Roth Capital reaffirmed a “neutral” rating and set a $140.00 price objective (down from $180.00) on shares of Advance Auto Parts in a report on Monday, February 13th.
Hedge Funds Weigh In On Advance Auto Parts
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd lifted its holdings in Advance Auto Parts by 113.7% during the first quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares during the last quarter. First Personal Financial Services lifted its holdings in Advance Auto Parts by 113.3% during the third quarter. First Personal Financial Services now owns 224 shares of the company’s stock valued at $35,000 after purchasing an additional 119 shares during the last quarter. Private Trust Co. NA purchased a new stake in Advance Auto Parts during the second quarter valued at about $36,000. AllSquare Wealth Management LLC purchased a new stake in Advance Auto Parts during the second quarter valued at about $43,000. Finally, General Partner Inc. purchased a new stake in Advance Auto Parts during the fourth quarter valued at about $44,000. 96.04% of the stock is owned by hedge funds and other institutional investors.
Advance Auto Parts Trading Down 2.2 %
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.47. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Advance Auto Parts had a return on equity of 28.53% and a net margin of 4.50%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.07 earnings per share. Research analysts expect that Advance Auto Parts will post 10.66 earnings per share for the current year.
Advance Auto Parts Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Thursday, April 13th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 72.55%.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.
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