Wedbush reiterated their buy rating on shares of Advance Auto Parts (NYSE:AAP) in a research note published on Thursday. The firm currently has a $130.00 target price on the stock, up from their previous target price of $115.00. Wedbush also issued estimates for Advance Auto Parts’ Q4 2017 earnings at $0.60 EPS, FY2017 earnings at $5.20 EPS, FY2018 earnings at $5.99 EPS and FY2019 earnings at $7.10 EPS.
A number of other brokerages have also recently weighed in on AAP. BTIG Research reiterated a sell rating and set a $75.00 price target (down from $90.00) on shares of Advance Auto Parts in a research report on Wednesday, October 25th. Royal Bank of Canada increased their price target 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. Zacks Investment Research upgraded Advance Auto Parts from a hold rating to a buy rating and set a $130.00 price target on the stock in a research report on Tuesday, January 16th. Morgan Stanley set a $120.00 price target on Advance Auto Parts and gave the stock a buy rating in a research report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. increased their price target on Advance Auto Parts from $110.00 to $138.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Advance Auto Parts presently has a consensus rating of Hold and an average target price of $112.14.
Shares of Advance Auto Parts (NYSE:AAP) opened at $116.32 on Thursday. Advance Auto Parts has a one year low of $78.81 and a one year high of $158.69. The stock has a market capitalization of $8,600.00, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.31.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Thursday, March 22nd. Advance Auto Parts’s dividend payout ratio (DPR) is 5.36%.
Hedge funds have recently modified their holdings of the stock. Balentine LLC bought a new position in Advance Auto Parts in the 4th quarter worth approximately $100,000. QS Investors LLC grew its holdings in Advance Auto Parts by 0.9% in the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after buying an additional 9 shares in the last quarter. Assetmark Inc. grew its holdings in Advance Auto Parts by 71.6% in the 4th quarter. Assetmark Inc. now owns 1,488 shares of the company’s stock worth $148,000 after buying an additional 621 shares in the last quarter. FDx Advisors Inc. bought a new position in Advance Auto Parts in the 3rd quarter worth approximately $201,000. Finally, IFM Investors Pty Ltd bought a new position in Advance Auto Parts in the 4th quarter worth approximately $207,000.
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Advance Auto Parts Company Profile
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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