Advance Auto Parts (NYSE:AAP) Lifted to “Buy” at Citigroup

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Citigroup upgraded shares of Advance Auto Parts (NYSE:AAP) from a neutral rating to a buy rating in a research note published on Friday, BenzingaRatingsTable reports. Citigroup currently has $188.00 target price on the stock, up from their prior target price of $156.00.

AAP has been the subject of a number of other reports. Goldman Sachs Group began coverage on shares of Advance Auto Parts in a research report on Thursday, July 11th. They set a sell rating and a $151.00 price target for the company. JPMorgan Chase & Co. set a $222.00 price target on shares of Advance Auto Parts and gave the stock a buy rating in a research report on Monday, August 12th. Evercore ISI reissued a buy rating on shares of Advance Auto Parts in a research report on Tuesday, August 13th. UBS Group reduced their price target on shares of Advance Auto Parts from $205.00 to $170.00 and set a buy rating for the company in a research report on Wednesday, August 14th. Finally, Morgan Stanley set a $185.00 price target on shares of Advance Auto Parts and gave the stock a buy rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $185.38.

AAP opened at $157.00 on Friday. Advance Auto Parts has a 12-month low of $130.09 and a 12-month high of $186.15. The company has a current ratio of 1.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $11.08 billion, a PE ratio of 22.02, a P/E/G ratio of 1.69 and a beta of 0.85. The firm has a 50 day moving average of $143.29 and a two-hundred day moving average of $156.87.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.22). Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the business posted $1.97 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts predict that Advance Auto Parts will post 7.96 EPS for the current fiscal year.

The firm also recently announced a dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, September 19th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.37%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Doyle Wealth Management acquired a new stake in Advance Auto Parts during the 2nd quarter worth $31,000. Berman Capital Advisors LLC boosted its position in shares of Advance Auto Parts by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $33,000 after acquiring an additional 140 shares during the last quarter. Citizens Financial Group Inc RI boosted its position in shares of Advance Auto Parts by 466.7% during the 2nd quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock valued at $34,000 after acquiring an additional 182 shares during the last quarter. Nelson Roberts Investment Advisors LLC acquired a new position in shares of Advance Auto Parts during the 1st quarter valued at about $40,000. Finally, CSat Investment Advisory L.P. boosted its position in shares of Advance Auto Parts by 66.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 292 shares of the company’s stock valued at $45,000 after acquiring an additional 117 shares during the last quarter.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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