Advance Auto Parts (NYSE:AAP) Price Target Raised to $57.00

Advance Auto Parts (NYSE:AAP) had its price target lifted by JPMorgan Chase & Co. from $55.00 to $57.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts have also commented on AAP. UBS Group decreased their price objective on Advance Auto Parts from $65.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 21st. Citigroup boosted their target price on Advance Auto Parts from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Royal Bank Of Canada upped their target price on Advance Auto Parts from $49.00 to $51.00 and gave the company a “sector perform” rating in a research report on Friday. Guggenheim reiterated a “neutral” rating on shares of Advance Auto Parts in a research note on Friday, August 21st. Finally, Rothschild & Co Redburn downgraded Advance Auto Parts from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $45.00 to $32.00 in a report on Monday, October 26th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.39.

Advance Auto Parts Stock Performance

AAP stock opened at $45.67 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 1.63. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 0.87 and a beta of 1.02. The firm has a 50-day simple moving average of $43.30 and a two-hundred day simple moving average of $51.73. Advance Auto Parts has a one year low of $37.89 and a one year high of $65.20.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, November 5th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.04 billion. Advance Auto Parts had a net margin of 1.16% and a return on equity of 9.41%. Advance Auto Parts’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. On average, equities analysts forecast that Advance Auto Parts will post 2.94 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 22nd. Investors of record on Friday, January 8th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Advance Auto Parts’s dividend payout ratio (DPR) is 60.98%.

Institutional Trading of Advance Auto Parts

Several large investors have recently added to or reduced their stakes in AAP. BlackRock Inc. purchased a new position in Advance Auto Parts during the 2nd quarter worth approximately $581,909,000. Pzena Investment Management LLC lifted its stake in Advance Auto Parts by 13.6% during the 3rd quarter. Pzena Investment Management LLC now owns 4,986,453 shares of the company’s stock valued at $194,023,000 after acquiring an additional 596,952 shares during the period. Maple Rock Capital Partners Inc. boosted its holdings in shares of Advance Auto Parts by 86.5% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,421,040 shares of the company’s stock valued at $150,637,000 after acquiring an additional 1,122,900 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Advance Auto Parts by 15.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,127,948 shares of the company’s stock valued at $112,243,000 after acquiring an additional 282,591 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Advance Auto Parts by 4.5% in the 1st quarter. Bank of America Corp DE now owns 1,056,281 shares of the company’s stock valued at $55,719,000 after acquiring an additional 45,696 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc is a retailer of automotive aftermarket parts, accessories and maintenance products. Its offerings include replacement parts, batteries, tools, fluids and other supplies for a range of vehicles.

The company serves both do-it-yourself customers and professional automotive repair shops through its stores, online channels and network of independent locations. Its retail banners include Advance Auto Parts and Carquest.

Advance Auto Parts traces its roots to 1932, when the business began in Roanoke, Virginia.