Other research analysts also recently issued reports about the company. TheStreet downgraded Advance Auto Parts from a b rating to a c+ rating in a research note on Monday, March 27th. Royal Bank Of Canada dropped their target price on Advance Auto Parts from $168.00 to $153.00 and set an outperform rating on the stock in a research note on Thursday, May 25th. Barclays PLC restated a sell rating and set a $120.00 target price on shares of Advance Auto Parts in a research note on Friday, May 26th. Bank of America Corporation dropped their target price on Advance Auto Parts from $160.00 to $150.00 and set a neutral rating on the stock in a research note on Thursday, May 25th. Finally, Jefferies Group LLC boosted their target price on Advance Auto Parts to $150.00 and gave the stock a hold rating in a research note on Wednesday, June 28th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $152.38.
Shares of Advance Auto Parts (NYSE:AAP) opened at 100.25 on Thursday. The stock has a market capitalization of $7.40 billion, a PE ratio of 18.16 and a beta of 0.88. The stock has a 50 day moving average price of $132.91 and a 200-day moving average price of $151.47. Advance Auto Parts has a 1-year low of $99.13 and a 1-year high of $177.83.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.20 by $0.60. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the business posted $2.51 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. On average, analysts forecast that Advance Auto Parts will post $6.63 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 23rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Advance Auto Parts’s payout ratio is 4.36%.
In other Advance Auto Parts news, insider Thomas Greco purchased 16,000 shares of Advance Auto Parts stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average price of $134.63 per share, with a total value of $2,154,080.00. Following the acquisition, the insider now owns 111,030 shares of the company’s stock, valued at approximately $14,947,968.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Adriana Karaboutis purchased 367 shares of Advance Auto Parts stock in a transaction that occurred on Friday, June 2nd. The stock was acquired at an average cost of $135.28 per share, with a total value of $49,647.76. Following the acquisition, the director now directly owns 3,043 shares in the company, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Insiders purchased a total of 369,462 shares of company stock valued at $49,617,073 in the last ninety days. 4.50% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in AAP. Bank of Montreal Can boosted its position in Advance Auto Parts by 279.7% in the second quarter. Bank of Montreal Can now owns 27,742 shares of the company’s stock worth $3,234,000 after buying an additional 20,435 shares during the last quarter. Atria Investments LLC boosted its position in shares of Advance Auto Parts by 40.1% in the second quarter. Atria Investments LLC now owns 8,640 shares of the company’s stock worth $1,007,000 after buying an additional 2,474 shares during the last quarter. BKD Wealth Advisors LLC boosted its position in shares of Advance Auto Parts by 47.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,968 shares of the company’s stock worth $346,000 after buying an additional 951 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Advance Auto Parts by 4.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 9,756 shares of the company’s stock worth $1,446,000 after buying an additional 406 shares during the last quarter. Finally, Causeway Capital Management LLC boosted its position in shares of Advance Auto Parts by 44.4% in the first quarter. Causeway Capital Management LLC now owns 1,415,672 shares of the company’s stock worth $240,970,000 after buying an additional 435,424 shares during the last quarter.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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