The Goldman Sachs Group downgraded shares of Advance Auto Parts (NYSE:AAP – Get Rating) from a buy rating to a neutral rating in a report released on Thursday morning, The Fly reports. They currently have $82.00 price objective on the stock, down from their prior price objective of $155.00.
Several other analysts have also recently weighed in on AAP. DA Davidson reduced their target price on shares of Advance Auto Parts from $170.00 to $142.00 and set a neutral rating on the stock in a report on Wednesday, March 1st. Argus cut shares of Advance Auto Parts from a buy rating to a hold rating in a report on Monday, March 13th. Raymond James cut their price objective on shares of Advance Auto Parts from $180.00 to $160.00 and set a strong-buy rating on the stock in a report on Wednesday, April 19th. Barclays raised shares of Advance Auto Parts from an underweight rating to an equal weight rating and cut their price objective for the stock from $140.00 to $129.00 in a report on Friday, March 31st. Finally, TheStreet cut shares of Advance Auto Parts from a b- rating to a c+ rating in a report on Friday, May 26th. Seventeen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $104.42.
Advance Auto Parts Price Performance
Shares of NYSE AAP opened at $68.04 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.21. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of 0.93 and a beta of 1.10. The stock’s 50-day moving average is $119.19 and its two-hundred day moving average is $136.06. Advance Auto Parts has a 1-year low of $67.80 and a 1-year high of $212.25.
Advance Auto Parts Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be given a $0.25 dividend. The ex-dividend date is Thursday, July 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.47%. Advance Auto Parts’s dividend payout ratio (DPR) is 72.55%.
Hedge Funds Weigh In On Advance Auto Parts
Hedge funds and other institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its position in shares of Advance Auto Parts by 15.7% during the 3rd quarter. Gamco Investors INC. ET AL now owns 2,389 shares of the company’s stock worth $373,000 after purchasing an additional 325 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in shares of Advance Auto Parts by 92.0% during the 4th quarter. Brandywine Global Investment Management LLC now owns 84,994 shares of the company’s stock worth $12,497,000 after purchasing an additional 40,720 shares in the last quarter. Commerce Bank boosted its position in shares of Advance Auto Parts by 17.5% during the 4th quarter. Commerce Bank now owns 24,380 shares of the company’s stock worth $3,585,000 after purchasing an additional 3,636 shares in the last quarter. Distillate Capital Partners LLC boosted its position in shares of Advance Auto Parts by 15.1% during the 3rd quarter. Distillate Capital Partners LLC now owns 33,328 shares of the company’s stock worth $5,443,000 after purchasing an additional 4,377 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Advance Auto Parts by 265.7% during the 3rd quarter. KBC Group NV now owns 27,740 shares of the company’s stock worth $4,337,000 after purchasing an additional 20,154 shares in the last quarter. 96.04% of the stock is currently owned by hedge funds and other institutional investors.
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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