Advance Auto Parts (NYSE:AAP – Free Report) had its price objective trimmed by UBS Group from $75.00 to $62.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.
Several other research firms have also weighed in on AAP. Royal Bank of Canada decreased their target price on shares of Advance Auto Parts from $84.00 to $70.00 and set a sector perform rating on the stock in a report on Thursday, August 24th. TD Cowen initiated coverage on Advance Auto Parts in a research report on Tuesday, October 10th. They issued a market perform rating and a $55.00 target price on the stock. Wells Fargo & Company lowered their price target on Advance Auto Parts from $70.00 to $60.00 and set an equal weight rating for the company in a report on Monday. Evercore ISI decreased their target price on shares of Advance Auto Parts from $80.00 to $75.00 and set an in-line rating on the stock in a research report on Friday, September 8th. Finally, The Goldman Sachs Group lowered their target price on shares of Advance Auto Parts from $83.00 to $73.00 and set a neutral rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of Hold and a consensus target price of $84.80.
Advance Auto Parts Stock Down 4.0 %
Advance Auto Parts (NYSE:AAP – Get Free Report) last posted its quarterly earnings results on Wednesday, November 15th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($2.26). The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Advance Auto Parts had a net margin of 3.08% and a return on equity of 17.53%. Advance Auto Parts’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $2.84 earnings per share. As a group, sell-side analysts predict that Advance Auto Parts will post 4.63 EPS for the current fiscal year.
Advance Auto Parts Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, January 11th. This represents a $1.00 annualized dividend and a yield of 1.87%. Advance Auto Parts’s dividend payout ratio is currently 17.30%.
Insider Transactions at Advance Auto Parts
In other news, Director Eugene I. Lee, Jr. bought 8,670 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average cost of $57.65 per share, with a total value of $499,825.50. Following the transaction, the director now directly owns 19,430 shares in the company, valued at $1,120,139.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of AAP. Headlands Technologies LLC grew its holdings in shares of Advance Auto Parts by 290.1% during the second quarter. Headlands Technologies LLC now owns 6,179 shares of the company’s stock worth $434,000 after buying an additional 4,595 shares during the last quarter. Personal CFO Solutions LLC raised its stake in shares of Advance Auto Parts by 11.2% during the first quarter. Personal CFO Solutions LLC now owns 3,553 shares of the company’s stock worth $432,000 after purchasing an additional 359 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Advance Auto Parts during the first quarter worth $378,000. Rhumbline Advisers grew its position in Advance Auto Parts by 4.6% in the 1st quarter. Rhumbline Advisers now owns 130,033 shares of the company’s stock valued at $15,813,000 after buying an additional 5,747 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Advance Auto Parts by 168.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,514 shares of the company’s stock valued at $427,000 after buying an additional 2,203 shares during the period. 88.75% of the stock is owned by hedge funds and other institutional investors.
Advance Auto Parts Company Profile
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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