Advance Auto Parts (NYSE:AAP) Price Target Raised to $215.00

Advance Auto Parts (NYSE:AAP) had its price target lifted by Argus from $185.00 to $215.00 in a report issued on Tuesday, The Fly reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on AAP. Royal Bank of Canada upped their price objective on shares of Advance Auto Parts from $227.00 to $240.00 and gave the stock an outperform rating in a report on Thursday, June 3rd. Raymond James upped their price objective on shares of Advance Auto Parts from $175.00 to $215.00 and gave the stock an outperform rating in a report on Wednesday, April 21st. Atlantic Securities upgraded shares of Advance Auto Parts from an underweight rating to a neutral rating and set a $175.00 price objective on the stock in a report on Monday, March 1st. Morgan Stanley upped their price objective on shares of Advance Auto Parts from $195.00 to $215.00 and gave the stock an overweight rating in a report on Wednesday, April 21st. Finally, Wells Fargo & Company upped their target price on shares of Advance Auto Parts from $185.00 to $200.00 and gave the stock an equal weight rating in a research note on Monday, April 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Advance Auto Parts has a consensus rating of Buy and a consensus target price of $195.37.

Shares of NYSE AAP opened at $195.85 on Tuesday. Advance Auto Parts has a 1 year low of $130.33 and a 1 year high of $210.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.32 and a quick ratio of 0.37. The company’s 50-day moving average is $194.89. The stock has a market capitalization of $12.82 billion, a PE ratio of 20.99, a P/E/G ratio of 1.30 and a beta of 1.37.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, June 1st. The company reported $3.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.08 by $0.26. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.30 billion. Advance Auto Parts had a net margin of 5.92% and a return on equity of 20.48%. The business’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, equities analysts anticipate that Advance Auto Parts will post 10.56 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 2nd. Stockholders of record on Friday, June 18th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, June 17th. This is a boost from Advance Auto Parts’s previous quarterly dividend of $0.25. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.04%. Advance Auto Parts’s dividend payout ratio is 11.75%.

In other news, EVP Natalie Schechtman sold 3,200 shares of the stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $197.58, for a total value of $632,256.00. Following the completion of the sale, the executive vice president now directly owns 5,545 shares of the company’s stock, valued at $1,095,581.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allred Capital Management LLC purchased a new position in Advance Auto Parts during the first quarter valued at $31,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Advance Auto Parts during the fourth quarter valued at $27,000. O Shaughnessy Asset Management LLC grew its stake in Advance Auto Parts by 59.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 186 shares of the company’s stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in Advance Auto Parts during the fourth quarter valued at $29,000. Finally, Exchange Traded Concepts LLC lifted its position in Advance Auto Parts by 303.8% during the first quarter. Exchange Traded Concepts LLC now owns 210 shares of the company’s stock valued at $39,000 after purchasing an additional 158 shares during the last quarter. 96.61% of the stock is owned by institutional investors.

Advance Auto Parts Company Profile

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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