Moffett Nathanson Begins Coverage on Advance Auto Parts (AAP)

Moffett Nathanson began coverage on shares of Advance Auto Parts (NYSE:AAP) in a report issued on Monday, Marketbeat Ratings reports. The firm issued a neutral rating on the stock.

Several other equities analysts also recently weighed in on the company. Credit Suisse Group set a $100.00 target price on Advance Auto Parts and gave the company a buy rating in a research report on Wednesday, August 16th. Raymond James Financial reiterated a market perform rating on shares of Advance Auto Parts in a research report on Wednesday, October 4th. BTIG Research reiterated a sell rating and set a $75.00 price objective (down previously from $90.00) on shares of Advance Auto Parts in a research report on Wednesday, October 25th. Royal Bank Of Canada lifted their price objective on Advance Auto Parts from $100.00 to $109.00 and gave the stock an outperform rating in a research report on Wednesday, November 15th. Finally, Citigroup downgraded Advance Auto Parts from a neutral rating to a sell rating and reduced their price objective for the stock from $99.00 to $82.00 in a research report on Tuesday, September 12th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $104.89.

Advance Auto Parts (AAP) opened at $97.50 on Monday. The firm has a market capitalization of $7,686.87, a P/E ratio of 18.54, a PEG ratio of 1.87 and a beta of 1.00. Advance Auto Parts has a 1 year low of $78.81 and a 1 year high of $177.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.52 and a quick ratio of 0.32.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.18. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.21 billion. Advance Auto Parts had a return on equity of 13.51% and a net margin of 3.75%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 earnings per share. sell-side analysts expect that Advance Auto Parts will post 5.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Advance Auto Parts’s payout ratio is 5.03%.

Hedge funds have recently bought and sold shares of the business. Tobam acquired a new stake in Advance Auto Parts during the second quarter worth $118,000. QS Investors LLC increased its stake in Advance Auto Parts by 0.9% during the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after acquiring an additional 9 shares during the last quarter. Global X Management Co. LLC increased its stake in Advance Auto Parts by 14.3% during the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after acquiring an additional 139 shares during the last quarter. IFP Advisors Inc increased its stake in Advance Auto Parts by 57.5% during the second quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock worth $141,000 after acquiring an additional 441 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in Advance Auto Parts by 763.0% during the second quarter. Federated Investors Inc. PA now owns 1,398 shares of the company’s stock worth $163,000 after acquiring an additional 1,236 shares during the last quarter.

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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.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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