Advance Auto Parts (NYSE:AAP) Price Target Increased to $200.00 by Analysts at Wells Fargo & Company


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Advance Auto Parts (NYSE:AAP) had its price target raised by Wells Fargo & Company from $185.00 to $200.00 in a research note released on Monday, The Fly reports. They currently have an equal weight rating on the stock.

AAP has been the topic of several other reports. Morgan Stanley lifted their price objective on Advance Auto Parts from $190.00 to $195.00 and gave the company an overweight rating in a research report on Wednesday, March 31st. The Goldman Sachs Group lifted their price objective on Advance Auto Parts from $142.00 to $157.00 and gave the company a sell rating in a research report on Tuesday, February 16th. UBS Group lifted their price objective on Advance Auto Parts from $195.00 to $210.00 and gave the company a buy rating in a research report on Wednesday, March 17th. Citigroup began coverage on Advance Auto Parts in a research report on Monday, March 15th. They set a buy rating and a $193.00 price objective on the stock. Finally, Stephens lifted their price objective on Advance Auto Parts from $175.00 to $180.00 and gave the company an equal weight rating in a research report on Friday, March 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $167.88.

Shares of NYSE:AAP opened at $192.54 on Monday. Advance Auto Parts has a 1 year low of $112.41 and a 1 year high of $196.17. The company has a market cap of $12.62 billion, a PE ratio of 27.99, a P/E/G ratio of 1.31 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.38 and a quick ratio of 0.45. The stock’s 50-day moving average is $181.20 and its 200 day moving average is $163.01.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Monday, February 15th. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.10). Advance Auto Parts had a net margin of 4.84% and a return on equity of 15.75%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. Analysts expect that Advance Auto Parts will post 8.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 2nd. Investors of record on Friday, March 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 18th. This represents a $1.00 annualized dividend and a yield of 0.52%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 12.21%.

Hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC raised its stake in Advance Auto Parts by 3.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 2,197 shares of the company’s stock valued at $403,000 after buying an additional 75 shares during the last quarter. Mackenzie Financial Corp raised its stake in Advance Auto Parts by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 4,602 shares of the company’s stock valued at $725,000 after buying an additional 79 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Advance Auto Parts by 44.1% during the 4th quarter. Meeder Asset Management Inc. now owns 271 shares of the company’s stock valued at $43,000 after buying an additional 83 shares during the last quarter. SeaBridge Investment Advisors LLC raised its stake in Advance Auto Parts by 1.2% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 7,328 shares of the company’s stock valued at $1,154,000 after buying an additional 90 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Advance Auto Parts by 25.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 441 shares of the company’s stock valued at $69,000 after buying an additional 90 shares during the last quarter. 93.86% of the stock is currently 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.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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