Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Rating of “Buy” by Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has been assigned an average rating of “Buy” from the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $213.83.

Several equities research analysts have commented on the company. Credit Suisse Group boosted their target price on Advance Auto Parts from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, August 25th. Wedbush boosted their target price on Advance Auto Parts from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 25th. Bank of America boosted their target price on Advance Auto Parts from $223.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, August 25th. Royal Bank of Canada boosted their price target on Advance Auto Parts from $227.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, June 3rd. Finally, Morgan Stanley lowered Advance Auto Parts from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 27th.

In other Advance Auto Parts news, EVP Robert B. Cushing sold 3,500 shares of the company’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $202.15, for a total value of $707,525.00. Following the transaction, the executive vice president now directly owns 15,752 shares of the company’s stock, valued at approximately $3,184,266.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carla Jean Bailo acquired 400 shares of the firm’s stock in a transaction on Wednesday, June 16th. The stock was purchased at an average cost of $197.80 per share, for a total transaction of $79,120.00. Following the completion of the acquisition, the director now owns 1,964 shares in the company, valued at $388,479.20. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in AAP. Allred Capital Management LLC bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at $31,000. O Shaughnessy Asset Management LLC lifted its position in shares of Advance Auto Parts by 59.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 186 shares of the company’s stock worth $34,000 after buying an additional 69 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Advance Auto Parts during the 2nd quarter worth $34,000. WealthShield Partners LLC lifted its position in shares of Advance Auto Parts by 39.2% during the 2nd quarter. WealthShield Partners LLC now owns 174 shares of the company’s stock worth $36,000 after buying an additional 49 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Advance Auto Parts by 182.8% during the 2nd quarter. IFP Advisors Inc now owns 181 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

NYSE:AAP opened at $199.26 on Tuesday. Advance Auto Parts has a fifty-two week low of $142.46 and a fifty-two week high of $217.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 0.37. The stock has a market capitalization of $12.55 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.36. The business’s 50-day simple moving average is $207.70 and its 200-day simple moving average is $197.21.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Monday, August 23rd. The company reported $3.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.04 by $0.36. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Advance Auto Parts had a return on equity of 21.64% and a net margin of 5.73%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.92 EPS. On average, research analysts expect that Advance Auto Parts will post 11.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 17th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 16th. Advance Auto Parts’s payout ratio is presently 47.00%.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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