Advance Auto Parts (NYSE:AAP) Stock Rating Lowered by Citigroup

Citigroup lowered shares of Advance Auto Parts (NYSE:AAPGet Rating) from a buy rating to a neutral rating in a report released on Thursday, MarketBeat.com reports. The brokerage currently has $161.00 price target on the stock, down from their prior price target of $216.00.

Other research analysts have also recently issued reports about the company. Wedbush reduced their target price on Advance Auto Parts from $200.00 to $165.00 and set an outperform rating for the company in a research report on Wednesday, November 16th. Wells Fargo & Company cut their price objective on Advance Auto Parts from $200.00 to $180.00 and set an equal weight rating for the company in a report on Wednesday, November 16th. Morgan Stanley lowered their target price on Advance Auto Parts from $225.00 to $205.00 and set an equal weight rating for the company in a research note on Thursday, August 25th. Raymond James lowered their target price on Advance Auto Parts from $220.00 to $210.00 and set a strong-buy rating for the company in a research note on Thursday, October 20th. Finally, StockNews.com upgraded Advance Auto Parts from a hold rating to a buy rating in a research report on Monday, November 14th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $197.07.

Advance Auto Parts Stock Down 0.5 %

AAP opened at $147.50 on Thursday. Advance Auto Parts has a 1-year low of $145.59 and a 1-year high of $244.55. The company has a current ratio of 1.13, a quick ratio of 0.25 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 0.93 and a beta of 1.27. The business has a 50 day moving average of $171.75 and a 200-day moving average of $181.89.

Advance Auto Parts (NYSE:AAPGet Rating) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $3.74 earnings per share for the quarter, meeting the consensus estimate of $3.74. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business earned $3.40 earnings per share. As a group, sell-side analysts anticipate that Advance Auto Parts will post 12.62 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, December 15th. Advance Auto Parts’s dividend payout ratio (DPR) is 77.12%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Covestor Ltd increased its holdings in shares of Advance Auto Parts by 113.7% during the 1st 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. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Advance Auto Parts during the 1st quarter worth approximately $35,000. Ellevest Inc. increased its holdings in shares of Advance Auto Parts by 161.0% during the 2nd quarter. Ellevest Inc. now owns 201 shares of the company’s stock worth $35,000 after acquiring an additional 124 shares during the last quarter. First Personal Financial Services increased its holdings in shares of Advance Auto Parts by 113.3% during the 3rd 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. Finally, Private Trust Co. NA acquired a new position in shares of Advance Auto Parts during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 99.47% of the company’s stock.

About Advance Auto Parts

(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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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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