Advance Auto Parts, Inc. (NYSE:AAP) Receives Consensus Rating of “Buy” from Analysts
Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) have received a consensus recommendation of “Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $256.65.
Several equities research analysts recently issued reports on the company. Truist Financial assumed coverage on Advance Auto Parts in a report on Thursday, January 13th. They set a “buy” rating and a $273.00 price target for the company. DA Davidson raised their price target on shares of Advance Auto Parts from $250.00 to $260.00 in a research report on Thursday, December 30th. Morgan Stanley boosted their price target on shares of Advance Auto Parts from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 16th. JPMorgan Chase & Co. lifted their target price on shares of Advance Auto Parts from $276.00 to $280.00 in a research report on Friday, February 11th. Finally, StockNews.com lowered Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Monday.
A number of large investors have recently modified their holdings of AAP. FMR LLC boosted its position in shares of Advance Auto Parts by 287.6{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} in the first quarter. FMR LLC now owns 139,025 shares of the company’s stock valued at $23,708,000 after acquiring an additional 103,160 shares during the period. AE Wealth Management LLC boosted its position in shares of Advance Auto Parts by 2.7{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} in the third quarter. AE Wealth Management LLC now owns 6,973 shares of the company’s stock valued at $1,457,000 after acquiring an additional 181 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Advance Auto Parts by 6.8{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} in the third quarter. Asset Management One Co. Ltd. now owns 34,681 shares of the company’s stock valued at $7,244,000 after acquiring an additional 2,206 shares during the period. Victory Capital Management Inc. boosted its position in shares of Advance Auto Parts by 3.2{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} in the third quarter. Victory Capital Management Inc. now owns 37,720 shares of the company’s stock valued at $7,879,000 after acquiring an additional 1,181 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Advance Auto Parts in the third quarter valued at approximately $217,000. Hedge funds and other institutional investors own 97.61{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} of the company’s stock.
Advance Auto Parts stock opened at $223.44 on Wednesday. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The firm’s fifty day moving average price is $211.94 and its two-hundred day moving average price is $224.24. Advance Auto Parts has a 1-year low of $187.16 and a 1-year high of $244.55. The company has a current ratio of 1.21, a quick ratio of 0.31 and a debt-to-equity ratio of 0.33.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings results on Monday, February 14th. The company reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.10. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Advance Auto Parts had a net margin of 5.60{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} and a return on equity of 23.63{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac}. The firm’s revenue for the quarter was up 1.3{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} compared to the same quarter last year. During the same quarter last year, the firm earned $1.87 EPS. On average, research analysts forecast that Advance Auto Parts will post 13.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 18th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.69{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac}. The ex-dividend date was Thursday, March 17th. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $1.00. Advance Auto Parts’s dividend payout ratio (DPR) is currently 62.96{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac}.
Advance Auto Parts Company Profile (Get Rating)
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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