Goldman Sachs Group began coverage on shares of Advance Auto Parts (NYSE:AAP) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm issued a sell rating and a $151.00 price objective on the stock.
Other equities analysts have also issued reports about the company. Citigroup dropped their price target on GrafTech International from $21.00 to $17.00 and set a buy rating on the stock in a research note on Monday, April 1st. Evercore ISI began coverage on Polarityte in a research note on Wednesday, March 20th. They issued an outperform rating and a $26.00 price target on the stock. Zacks Investment Research lowered German American Bancorp. from a buy rating to a hold rating in a research note on Tuesday, April 30th. William Blair reissued an outperform rating on shares of Advance Auto Parts in a research note on Wednesday, May 22nd. Finally, Wells Fargo & Co reissued a hold rating and issued a $175.00 price target on shares of Advance Auto Parts in a research note on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of Buy and a consensus price target of $189.33.
Shares of AAP stock opened at $158.58 on Thursday. Advance Auto Parts has a one year low of $138.67 and a one year high of $186.15. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.31. The firm has a 50 day moving average of $155.26. The company has a market capitalization of $11.21 billion, a PE ratio of 22.24, a PEG ratio of 1.65 and a beta of 0.90.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.10. Advance Auto Parts had a return on equity of 15.23% and a net margin of 4.45%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the firm earned $2.10 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that Advance Auto Parts will post 8.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 21st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, June 20th. Advance Auto Parts’s payout ratio is 3.37%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAP. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Advance Auto Parts by 20.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,821 shares of the company’s stock worth $444,000 after purchasing an additional 478 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Advance Auto Parts by 59.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,670 shares of the company’s stock worth $578,000 after purchasing an additional 1,367 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Advance Auto Parts by 17.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 52,318 shares of the company’s stock worth $7,855,000 after purchasing an additional 7,725 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Advance Auto Parts by 7.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 13,387 shares of the company’s stock worth $2,108,000 after purchasing an additional 956 shares during the last quarter. Finally, Commonwealth Bank of Australia grew its holdings in shares of Advance Auto Parts by 26.5% during the fourth quarter. Commonwealth Bank of Australia now owns 3,543 shares of the company’s stock worth $553,000 after purchasing an additional 743 shares during the last quarter. 98.87% of the stock is owned by institutional investors and hedge funds.
About Advance Auto Parts
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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