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

Advance Auto Parts, Inc. (NYSE:AAP) has received an average rating of “Buy” from the twenty-one analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $195.37.

A number of brokerages recently issued reports on AAP. Citigroup increased their price target on Advance Auto Parts from $228.00 to $232.00 and gave the stock a “buy” rating in a research report on Thursday, June 3rd. Morgan Stanley upped their target price on Advance Auto Parts from $195.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 21st. Raymond James upped their target price on Advance Auto Parts from $175.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 21st. Wells Fargo & Company upped their target price on Advance Auto Parts from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Monday, April 19th. Finally, The Goldman Sachs Group upgraded Advance Auto Parts from a “sell” rating to a “buy” rating and upped their target price for the stock from $180.00 to $227.00 in a research note on Tuesday, May 4th.

In other news, EVP Natalie Schechtman sold 3,200 shares of the firm’s stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $197.58, for a total value of $632,256.00. Following the completion of the sale, the executive vice president now directly owns 5,545 shares in the company, valued at approximately $1,095,581.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Several large investors have recently bought and sold shares of AAP. Artisan Partners Limited Partnership grew its stake in Advance Auto Parts by 6.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,770,929 shares of the company’s stock valued at $324,948,000 after buying an additional 113,891 shares in the last quarter. Champlain Investment Partners LLC grew its stake in Advance Auto Parts by 0.6% in the 1st quarter. Champlain Investment Partners LLC now owns 1,701,825 shares of the company’s stock valued at $312,268,000 after buying an additional 9,640 shares in the last quarter. Bessemer Group Inc. grew its stake in Advance Auto Parts by 2.2% in the 1st quarter. Bessemer Group Inc. now owns 1,210,736 shares of the company’s stock valued at $222,156,000 after buying an additional 26,263 shares in the last quarter. Morgan Stanley grew its stake in Advance Auto Parts by 90.0% in the 4th quarter. Morgan Stanley now owns 1,108,920 shares of the company’s stock valued at $174,667,000 after buying an additional 525,152 shares in the last quarter. Finally, Norges Bank purchased a new position in Advance Auto Parts in the 4th quarter valued at approximately $170,946,000. 96.61% of the stock is currently owned by institutional investors.

NYSE:AAP traded up $3.56 during trading hours on Friday, reaching $199.41. 21,530 shares of the company were exchanged, compared to its average volume of 971,081. The firm has a market capitalization of $13.05 billion, a P/E ratio of 20.99, a P/E/G ratio of 1.30 and a beta of 1.37. Advance Auto Parts has a 1-year low of $130.33 and a 1-year high of $210.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.32 and a quick ratio of 0.37. The firm has a 50 day moving average of $194.89.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, June 1st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.08 by $0.26. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.30 billion. Advance Auto Parts had a return on equity of 20.48% and a net margin of 5.92%. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, equities research analysts forecast that Advance Auto Parts will post 10.56 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 2nd. Stockholders of record on Friday, June 18th will be paid a $1.00 dividend. The ex-dividend date is Thursday, June 17th. This is an increase from Advance Auto Parts’s previous quarterly dividend of $0.25. This represents a $4.00 annualized dividend and a dividend yield of 2.01%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 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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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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