Raymond James Trims Advance Auto Parts (NYSE:AAP) Target Price to $200.00

Advance Auto Parts (NYSE:AAPGet Rating) had its price objective cut by Raymond James from $210.00 to $200.00 in a report issued on Thursday, The Fly reports. They currently have a strong-buy rating on the stock.

A number of other brokerages have also recently issued reports on AAP. Citigroup cut shares of Advance Auto Parts from a buy rating to a neutral rating and decreased their price objective for the stock from $216.00 to $161.00 in a report on Thursday. Royal Bank of Canada decreased their price objective on shares of Advance Auto Parts from $199.00 to $165.00 and set a sector perform rating for the company in a report on Thursday. Morgan Stanley decreased their price objective on shares of Advance Auto Parts from $225.00 to $205.00 and set an equal weight rating for the company in a report on Thursday, August 25th. Wedbush decreased their price objective on shares of Advance Auto Parts from $200.00 to $165.00 and set an outperform rating for the company in a report on Wednesday, November 16th. Finally, Guggenheim cut shares of Advance Auto Parts from a buy rating to a neutral rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $197.07.

Advance Auto Parts Trading Down 0.5 %

Advance Auto Parts stock opened at $147.50 on Thursday. The company’s fifty day simple moving average is $171.75 and its 200-day simple moving average is $181.89. The company has a quick ratio of 0.25, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. Advance Auto Parts has a 12 month low of $145.59 and a 12 month high of $244.55. The stock has a market cap of $8.87 billion, a P/E ratio of 18.96, a P/E/G ratio of 0.93 and a beta of 1.27.

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

Advance Auto Parts Dividend Announcement

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

Institutional Investors Weigh In On Advance Auto Parts

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Advance Auto Parts by 22.4% during the second quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock worth $456,297,000 after purchasing an additional 482,858 shares during the period. Balyasny Asset Management LLC lifted its stake in Advance Auto Parts by 4,881.8% during the third quarter. Balyasny Asset Management LLC now owns 477,160 shares of the company’s stock worth $74,600,000 after purchasing an additional 467,582 shares during the period. Ceredex Value Advisors LLC lifted its stake in Advance Auto Parts by 196.5% during the second quarter. Ceredex Value Advisors LLC now owns 635,030 shares of the company’s stock worth $110,848,000 after purchasing an additional 420,878 shares during the period. River Road Asset Management LLC lifted its stake in Advance Auto Parts by 62.0% during the first quarter. River Road Asset Management LLC now owns 1,055,464 shares of the company’s stock worth $218,439,000 after purchasing an additional 404,138 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Advance Auto Parts by 4.0% during the third quarter. Vanguard Group Inc. now owns 7,291,395 shares of the company’s stock worth $1,139,936,000 after purchasing an additional 277,906 shares during the period. Institutional investors own 99.47% of the company’s stock.

About Advance Auto Parts

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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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