StockNews.com upgraded shares of Advance Auto Parts (NYSE:AAP – Get Rating) from a hold rating to a buy rating in a research report released on Wednesday morning.
A number of other equities analysts also recently commented on the company. Argus decreased their target price on Advance Auto Parts from $220.00 to $185.00 in a report on Monday, December 5th. Wells Fargo & Company decreased their target price on Advance Auto Parts from $180.00 to $150.00 and set an equal weight rating for the company in a report on Thursday, January 5th. DA Davidson decreased their target price on Advance Auto Parts from $200.00 to $170.00 in a report on Thursday, November 17th. Wedbush upgraded Advance Auto Parts from a neutral rating to an outperform rating in a report on Friday, January 13th. Finally, Truist Financial downgraded Advance Auto Parts from a buy rating to a hold rating and decreased their target price for the company from $228.00 to $147.00 in a report on Wednesday, November 16th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Advance Auto Parts presently has an average rating of Moderate Buy and a consensus price target of $189.88.
Get Advance Auto Parts alerts:Advance Auto Parts Stock Performance
Shares of AAP stock opened at $152.17 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.23 and a current ratio of 1.13. Advance Auto Parts has a fifty-two week low of $138.52 and a fifty-two week high of $234.23. The stock has a 50 day moving average price of $148.06 and a two-hundred day moving average price of $167.25. The company has a market capitalization of $9.15 billion, a P/E ratio of 19.56, a PEG ratio of 1.03 and a beta of 1.11.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Tuesday, November 15th. The company reported $2.84 earnings per share for the quarter, missing the consensus estimate of $3.32 by ($0.48). The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.66 billion. Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. Analysts expect that Advance Auto Parts will post 12.59 earnings per share for the current year.Advance Auto Parts Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were paid a $1.50 dividend. The ex-dividend date was Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.94%. Advance Auto Parts's dividend payout ratio is currently 77.12%.
Institutional Investors Weigh In On Advance Auto Parts
A number of institutional investors have recently modified their holdings of AAP. Covestor Ltd grew its stake in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company's stock worth $32,000 after acquiring an additional 83 shares during the last quarter. First Personal Financial Services grew its stake in shares of Advance Auto Parts by 113.3% in the third quarter. First Personal Financial Services now owns 224 shares of the company's stock worth $35,000 after acquiring an additional 119 shares during the last quarter. Private Trust Co. NA purchased a new stake in shares of Advance Auto Parts in the second quarter worth $36,000. AllSquare Wealth Management LLC purchased a new stake in shares of Advance Auto Parts during the second quarter valued at $43,000. Finally, General Partner Inc. purchased a new stake in shares of Advance Auto Parts during the fourth quarter valued at $44,000. 96.04% of the stock is owned by hedge funds and other institutional investors.
Advance Auto Parts Company Profile
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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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