Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) have been given a consensus recommendation of “Buy” by the eighteen research firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $256.65.
A number of research firms recently weighed in on AAP. Morgan Stanley boosted their price target on shares of Advance Auto Parts from $235.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 16th. Evercore ISI began coverage on shares of Advance Auto Parts in a research note on Tuesday, February 15th. They set a “buy” rating and a $275.00 price target for the company. Truist Financial began coverage on shares of Advance Auto Parts in a research note on Thursday, January 13th. They set a “buy” rating and a $273.00 price target for the company. DA Davidson upped their target price on shares of Advance Auto Parts from $250.00 to $260.00 in a research note on Thursday, December 30th. Finally, StockNews.com downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Monday.
Shares of AAP stock opened at $223.44 on Wednesday. Advance Auto Parts has a 1 year low of $187.16 and a 1 year high of $244.55. The firm’s 50 day moving average is $211.94 and its 200-day moving average is $224.24. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.29 and a beta of 1.29. The company has a current ratio of 1.21, a quick ratio of 0.31 and a debt-to-equity ratio of 0.33.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its earnings results on Monday, February 14th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.10. Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the business earned $1.87 earnings per share. Advance Auto Parts’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that Advance Auto Parts will post 13.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 18th were issued a dividend of $1.50 per share. This is a boost from Advance Auto Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 17th. This represents a $6.00 annualized dividend and a yield of 2.69%. Advance Auto Parts’s dividend payout ratio is presently 62.96%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Advance Auto Parts by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 525,040 shares of the company’s stock valued at $109,676,000 after acquiring an additional 4,942 shares during the last quarter. Barclays PLC lifted its stake in Advance Auto Parts by 43.3% in the third quarter. Barclays PLC now owns 159,710 shares of the company’s stock valued at $33,363,000 after acquiring an additional 48,245 shares during the last quarter. We Are One Seven LLC lifted its stake in Advance Auto Parts by 5.3% in the third quarter. We Are One Seven LLC now owns 12,071 shares of the company’s stock valued at $2,722,000 after acquiring an additional 607 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Advance Auto Parts by 7.8% in the third quarter. Public Sector Pension Investment Board now owns 11,055 shares of the company’s stock valued at $2,309,000 after acquiring an additional 800 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in Advance Auto Parts by 3.6% in the third quarter. Segall Bryant & Hamill LLC now owns 29,114 shares of the company’s stock valued at $6,081,000 after acquiring an additional 1,007 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.
About Advance Auto Parts (Get Rating)
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.
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