Advance Auto Parts, Inc. (NYSE:AAP) Given Average Rating of “Reduce” by Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has been assigned a consensus recommendation of “Reduce” from the fifteen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $64.64.

Several equities analysts have recently commented on AAP shares. UBS Group raised their price target on Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Wedbush reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Advance Auto Parts in a research report on Friday, May 24th. StockNews.com raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Royal Bank of Canada lowered their target price on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating for the company in a report on Thursday, May 30th. Finally, Evercore ISI reduced their price target on Advance Auto Parts from $70.00 to $68.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th.

Institutional Trading of Advance Auto Parts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Advance Auto Parts by 12.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 37,481 shares of the company’s stock worth $2,287,000 after purchasing an additional 4,157 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth about $5,906,000. Fifth Third Bancorp lifted its holdings in shares of Advance Auto Parts by 166.6% during the fourth quarter. Fifth Third Bancorp now owns 5,105 shares of the company’s stock worth $312,000 after purchasing an additional 3,190 shares during the period. Oak Thistle LLC lifted its holdings in shares of Advance Auto Parts by 185.1% during the fourth quarter. Oak Thistle LLC now owns 23,657 shares of the company’s stock worth $1,444,000 after purchasing an additional 15,360 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth about $3,363,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

AAP stock opened at $58.86 on Tuesday. The stock has a market cap of $3.51 billion, a PE ratio of 85.30, a P/E/G ratio of 1.20 and a beta of 1.20. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 0.70. Advance Auto Parts has a 12 month low of $47.73 and a 12 month high of $88.56. The company has a 50-day moving average price of $62.96 and a 200 day moving average price of $69.37.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.02). The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. Equities research analysts anticipate that Advance Auto Parts will post 3.7 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, July 12th. Advance Auto Parts’s payout ratio is 144.93%.

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.