Goldman Sachs Group Begins Coverage on Advance Auto Parts (NYSE:AAP)

Goldman Sachs Group began coverage on shares of Advance Auto Parts (NYSE:AAP) in a research report released on Thursday morning, BenzingaRatingsTable reports. The firm issued a sell rating and a $151.00 target price on the stock.

AAP has been the subject of several other research reports. Zacks Investment Research downgraded German American Bancorp. from a buy rating to a hold rating in a research note on Tuesday, April 30th. William Blair reiterated an outperform rating on shares of Advance Auto Parts in a research note on Wednesday, May 22nd. Northcoast Research reiterated a neutral rating on shares of Advance Auto Parts in a research note on Thursday, June 27th. ValuEngine upgraded China Southern Airlines from a sell rating to a hold rating in a research note on Tuesday, June 11th. Finally, Citigroup cut their price target on GrafTech International from $21.00 to $17.00 and set a buy rating for the company in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Advance Auto Parts currently has a consensus rating of Buy and a consensus price target of $189.33.

Shares of NYSE:AAP opened at $158.58 on Thursday. The company has a market cap of $11.21 billion, a P/E ratio of 22.24, a PEG ratio of 1.65 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.31. The company has a fifty day simple moving average of $155.26. Advance Auto Parts has a 1 year low of $138.67 and a 1 year high of $186.15.



Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.10. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.94 billion. Advance Auto Parts had a return on equity of 15.23% and a net margin of 4.45%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 EPS. On average, sell-side analysts forecast that Advance Auto Parts will post 8.2 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 21st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, June 20th. Advance Auto Parts’s dividend payout ratio (DPR) is 3.37%.

A number of institutional investors have recently made changes to their positions in the stock. AJO LP raised its position in Advance Auto Parts by 2.5% during the first quarter. AJO LP now owns 18,687 shares of the company’s stock valued at $3,187,000 after purchasing an additional 448 shares during the period. Selway Asset Management boosted its position in shares of Advance Auto Parts by 2.0% in the 1st quarter. Selway Asset Management now owns 24,150 shares of the company’s stock worth $4,118,000 after purchasing an additional 475 shares in the last quarter. Eagle Asset Management Inc. raised its stake in Advance Auto Parts by 25.0% in the 1st quarter. Eagle Asset Management Inc. now owns 20,735 shares of the company’s stock worth $3,535,000 after acquiring an additional 4,145 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Advance Auto Parts by 0.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 212,221 shares of the company’s stock worth $36,190,000 after acquiring an additional 1,426 shares during the last quarter. Finally, HRT Financial LLC purchased a new position in Advance Auto Parts in the 4th quarter worth $656,000. 98.87% of the stock is owned by institutional investors.

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.

Read More: Understanding the two types of arbitrage

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.