Advance Auto Parts (NYSE:AAP) Given New $78.00 Price Target at Evercore ISI

Advance Auto Parts (NYSE:AAP) had its target price reduced by Evercore ISI from $82.00 to $78.00 in a report released on Tuesday morning, Marketbeat.com reports. They currently have an in-line rating on the stock.

A number of other research firms also recently weighed in on AAP. Barclays boosted their target price on Advance Auto Parts from $56.00 to $66.00 and gave the stock an equal weight rating in a research report on Thursday, February 29th. TheStreet upgraded Advance Auto Parts from a d+ rating to a c- rating in a research report on Monday, January 22nd. JPMorgan Chase & Co. upped their price objective on Advance Auto Parts from $55.00 to $68.00 and gave the company a neutral rating in a report on Thursday, February 29th. Truist Financial upped their price objective on Advance Auto Parts from $60.00 to $70.00 and gave the company a hold rating in a report on Tuesday, April 2nd. Finally, Mizuho started coverage on Advance Auto Parts in a report on Tuesday, March 19th. They issued a neutral rating and a $78.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts has an average rating of Hold and a consensus price target of $64.56.

Advance Auto Parts Trading Up 1.9 %

Shares of AAP opened at $78.69 on Tuesday. The stock has a fifty day moving average price of $74.57 and a two-hundred day moving average price of $63.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. Advance Auto Parts has a 52-week low of $47.73 and a 52-week high of $129.90. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 106.34, a PEG ratio of 1.34 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.83). The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 EPS. Analysts predict that Advance Auto Parts will post 3.94 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. Advance Auto Parts’s dividend payout ratio is currently 135.14%.

Insider Transactions at Advance Auto Parts

In other news, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at $899,363.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carla Jean Bailo acquired 310 shares of Advance Auto Parts stock in a transaction dated Monday, March 18th. The stock was bought at an average cost of $81.19 per share, with a total value of $25,168.90. Following the completion of the transaction, the director now directly owns 5,789 shares of the company’s stock, valued at $470,008.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at $899,363.84. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AAP. Private Advisor Group LLC acquired a new position in Advance Auto Parts during the first quarter valued at approximately $232,000. MetLife Investment Management LLC boosted its position in Advance Auto Parts by 21.9% during the first quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock valued at $3,511,000 after purchasing an additional 3,046 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Advance Auto Parts by 5.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock valued at $1,727,000 after purchasing an additional 435 shares during the last quarter. Cibc World Market Inc. boosted its position in Advance Auto Parts by 120.6% during the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock valued at $2,399,000 after purchasing an additional 6,338 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Advance Auto Parts by 14.4% during the first quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock valued at $956,000 after purchasing an additional 582 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

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.