Shares of Advance Auto Parts, Inc. (NYSE:AAP) have been assigned a consensus recommendation of “Buy” from the twenty-one brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $195.37.
A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada raised their price target on Advance Auto Parts from $227.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, June 3rd. Raymond James increased their price objective on Advance Auto Parts from $175.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, April 21st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on Advance Auto Parts from $228.00 to $232.00 and gave the company a “buy” rating in a report on Thursday, June 3rd. Stephens increased their price objective on Advance Auto Parts from $175.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, March 26th. Finally, Atlantic Securities raised Advance Auto Parts from an “underweight” rating to a “neutral” rating and set a $175.00 price objective on the stock in a report on Monday, March 1st.
In other news, EVP Natalie Schechtman sold 3,200 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $197.58, for a total transaction of $632,256.00. Following the sale, the executive vice president now owns 5,545 shares of the company’s stock, valued at approximately $1,095,581.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.
Shares of AAP traded up $3.56 during midday trading on Friday, reaching $199.41. 21,530 shares of the stock were exchanged, compared to its average volume of 971,081. Advance Auto Parts has a 12-month low of $130.33 and a 12-month high of $210.18. The business has a 50 day simple moving average of $194.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.37 and a current ratio of 1.32. The firm has a market cap of $13.05 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 1.30 and a beta of 1.37.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, June 1st. The company reported $3.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.08 by $0.26. Advance Auto Parts had a return on equity of 20.48% and a net margin of 5.92%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the business earned $0.91 EPS. The business’s quarterly revenue was up 23.4% on a year-over-year basis. As a group, sell-side analysts predict that Advance Auto Parts will post 10.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 2nd. Stockholders of record on Friday, June 18th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, June 17th. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $0.25. Advance Auto Parts’s dividend payout ratio (DPR) is presently 11.75%.
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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