Advance Auto Parts (NYSE:AAP) PT Lowered to $72.00 at Evercore ISI

Advance Auto Parts (NYSE:AAPFree Report) had its price objective cut by Evercore ISI from $80.00 to $72.00 in a research note published on Thursday morning, Benzinga reports. They currently have an in-line rating on the stock.

Several other brokerages have also recently weighed in on AAP. JPMorgan Chase & Co. lifted their target price on Advance Auto Parts from $55.00 to $68.00 and gave the stock a neutral rating in a report on Thursday, February 29th. Barclays increased their price objective on Advance Auto Parts from $56.00 to $66.00 and gave the company an equal weight rating in a research report on Thursday, February 29th. StockNews.com downgraded Advance Auto Parts from a hold rating to a sell rating in a report on Monday, May 13th. Wedbush reissued a neutral rating and issued a $70.00 price target on shares of Advance Auto Parts in a research note on Friday, May 24th. Finally, UBS Group upped their price objective on shares of Advance Auto Parts from $68.00 to $72.00 and gave the company a neutral rating in a research note on Tuesday, May 28th. Two analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $64.87.

Read Our Latest Analysis on AAP

Advance Auto Parts Stock Performance

AAP stock opened at $70.64 on Thursday. Advance Auto Parts has a 1 year low of $47.73 and a 1 year high of $112.57. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 102.38, a PEG ratio of 1.26 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.29 and a current ratio of 1.22. The stock’s fifty day moving average is $75.62 and its two-hundred day moving average is $67.82.

Advance Auto Parts (NYSE:AAPGet Free Report) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. Advance Auto Parts’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the business posted $0.72 earnings per share. On average, research analysts predict that Advance Auto Parts will post 3.8 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.00 annualized dividend and a yield of 1.42%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 144.93%.

Insider Activity

In related news, Director Brent Windom acquired 4,700 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were bought at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $853,400. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Carla Jean Bailo purchased 310 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average price of $81.19 per share, with a total value of $25,168.90. Following the purchase, the director now directly owns 5,789 shares in the company, valued at $470,008.91. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brent Windom acquired 4,700 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were bought at an average cost of $85.34 per share, with a total value of $401,098.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advance Auto Parts

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Advance Auto Parts by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,998,910 shares of the company’s stock worth $340,268,000 after acquiring an additional 40,669 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Advance Auto Parts by 2,226.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,026,668 shares of the company’s stock valued at $113,352,000 after acquiring an additional 1,939,560 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Advance Auto Parts by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,577,372 shares of the company’s stock valued at $96,267,000 after acquiring an additional 46,226 shares during the last quarter. Capital World Investors increased its position in Advance Auto Parts by 67.0% in the first quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after purchasing an additional 615,674 shares during the period. Finally, Third Point LLC bought a new stake in Advance Auto Parts during the 1st quarter worth about $127,234,000. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Company Profile

(Get Free Report)

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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