The Goldman Sachs Group Cuts Advance Auto Parts (NYSE:AAP) Price Target to $197.00

Advance Auto Parts (NYSE:AAPGet Rating) had its price objective cut by The Goldman Sachs Group from $230.00 to $197.00 in a report issued on Thursday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on AAP. Wedbush reduced 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 research note on Wednesday, November 16th. StockNews.com raised shares of Advance Auto Parts from a hold rating to a buy rating in a research note on Monday, November 14th. Guggenheim lowered shares of Advance Auto Parts from a buy rating to a neutral rating in a research report on Thursday. Royal Bank of Canada cut their target price on shares of Advance Auto Parts from $199.00 to $165.00 and set a sector perform rating for the company in a research report on Thursday. Finally, Wells Fargo & Company cut their target price on shares of Advance Auto Parts from $200.00 to $180.00 and set an equal weight rating for the company in a research report on Wednesday, November 16th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $197.07.

Advance Auto Parts Trading Down 0.5 %

Advance Auto Parts stock opened at $147.50 on Thursday. 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 company’s fifty day simple moving average is $171.75 and its 200-day simple moving average is $181.89. 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 released its quarterly earnings data on Tuesday, August 23rd. The company reported $3.74 earnings per share (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 during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the business earned $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 disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th will be issued a dividend of $1.50 per share. The ex-dividend date is Thursday, December 15th. This represents a $6.00 annualized dividend and a dividend yield of 4.07%. Advance Auto Parts’s payout ratio is 77.12%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its holdings in shares of Advance Auto Parts by 1.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 29,117 shares of the company’s stock worth $5,139,000 after purchasing an additional 421 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Advance Auto Parts by 47.9% in the first quarter. Mercer Global Advisors Inc. ADV now owns 8,278 shares of the company’s stock valued at $1,713,000 after acquiring an additional 2,682 shares during the period. PNC Financial Services Group Inc. increased its stake in Advance Auto Parts by 1.8% in the first quarter. PNC Financial Services Group Inc. now owns 10,659 shares of the company’s stock valued at $2,206,000 after acquiring an additional 192 shares during the period. Vestmark Advisory Solutions Inc. increased its stake in Advance Auto Parts by 53.3% in the second quarter. Vestmark Advisory Solutions Inc. now owns 8,461 shares of the company’s stock valued at $1,465,000 after acquiring an additional 2,941 shares during the period. Finally, Central Bank & Trust Co. increased its stake in Advance Auto Parts by 61.6% in the second quarter. Central Bank & Trust Co. now owns 223 shares of the company’s stock valued at $39,000 after acquiring an additional 85 shares during the period. Institutional investors own 99.47% of the company’s stock.

Advance Auto Parts Company Profile

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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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