Brokerages Set Advance Auto Parts, Inc. (AAP) PT at $111.09

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned an average rating of “Hold” from the twenty-five research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $111.09.

A number of brokerages have weighed in on AAP. Barclays reissued an “equal weight” rating and issued a $114.00 price target (up from $105.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Zacks Investment Research downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Stephens reissued a “hold” rating and issued a $113.00 price target (up from $58.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Wedbush reissued a “buy” rating and issued a $130.00 price target (up from $115.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Finally, Morgan Stanley set a $120.00 price target on shares of Advance Auto Parts and gave the company a “buy” rating in a report on Tuesday, December 12th.

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Shares of NYSE AAP traded up $0.60 during trading hours on Wednesday, hitting $112.51. 109,348 shares of the stock were exchanged, compared to its average volume of 1,334,421. The company has a current ratio of 1.56, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31. The company has a market cap of $8,278.89, a P/E ratio of 20.84, a P/E/G ratio of 1.35 and a beta of 1.04. Advance Auto Parts has a one year low of $78.81 and a one year high of $151.72.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.12. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm earned $1.00 EPS. The business’s revenue was down 2.2% on a year-over-year basis. equities research analysts forecast that Advance Auto Parts will post 6.7 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Friday, March 23rd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, March 22nd. Advance Auto Parts’s payout ratio is 4.47%.

In related news, EVP Tammy M. Finley sold 342 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $116.35, for a total transaction of $39,791.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Greco bought 8,640 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The shares were purchased at an average price of $115.77 per share, with a total value of $1,000,252.80. Following the transaction, the insider now directly owns 135,081 shares in the company, valued at $15,638,327.37. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in Advance Auto Parts by 533.5% in the 4th quarter. Franklin Resources Inc. now owns 3,418,890 shares of the company’s stock valued at $340,831,000 after acquiring an additional 2,879,215 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Advance Auto Parts by 16,567.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 697,887 shares of the company’s stock valued at $69,522,000 after acquiring an additional 693,700 shares in the last quarter. Capital International Investors increased its position in Advance Auto Parts by 107.3% in the 3rd quarter. Capital International Investors now owns 1,328,500 shares of the company’s stock valued at $131,787,000 after acquiring an additional 687,700 shares in the last quarter. Arlington Value Capital LLC increased its position in Advance Auto Parts by 1,435.9% in the 4th quarter. Arlington Value Capital LLC now owns 499,283 shares of the company’s stock valued at $49,773,000 after acquiring an additional 466,776 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in Advance Auto Parts by 48.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,339,056 shares of the company’s stock valued at $132,834,000 after acquiring an additional 435,798 shares in 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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