Barclays Lowers Advance Auto Parts (NYSE:AAP) Price Target to $54.00

by · The Cerbat Gem

Advance Auto Parts (NYSE:AAP – Free Report) had its price target reduced by Barclays from $66.00 to $54.00 in a research note released on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. BMO Capital Markets began coverage on Advance Auto Parts in a research report on Friday, December 13th. They issued a “market perform” rating and a $45.00 price objective on the stock. Evercore ISI lifted their target price on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. DA Davidson reissued a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. Roth Mkm restated a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, October 16th. Finally, Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.93.

Read Our Latest Research Report on Advance Auto Parts

Advance Auto Parts Stock Down 1.0 %

Shares of NYSE AAP opened at $45.51 on Thursday. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.72 billion, a P/E ratio of 62.34 and a beta of 1.16. Advance Auto Parts has a 52 week low of $35.59 and a 52 week high of $88.56. The business has a 50-day simple moving average of $42.69 and a two-hundred day simple moving average of $47.49.

Advance Auto Parts (NYSE:AAP – Get Free Report) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.82) earnings per share. Research analysts anticipate that Advance Auto Parts will post -0.54 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is 136.99%.

Insider Buying and Selling

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Advance Auto Parts in the 2nd quarter worth approximately $41,000. Blue Trust Inc. increased its stake in shares of Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after buying an additional 436 shares during the period. KBC Group NV raised its holdings in shares of Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after acquiring an additional 394 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after acquiring an additional 1,047 shares during the period. 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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