Advance Auto Parts (NYSE:AAP) Given Neutral Rating at DA Davidson

DA Davidson restated their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a $45.00 target price on the stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada reduced their target price on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. TD Cowen reduced their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 23rd. Mizuho restated a “neutral” rating and set a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research note on Friday. Finally, Roth Mkm reissued a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $49.14.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock opened at $37.69 on Friday. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The firm’s 50-day moving average is $39.02 and its 200 day moving average is $54.11. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 51.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.30.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 1.82% and a net margin of 0.41%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.82) EPS. Sell-side analysts anticipate that Advance Auto Parts will post 2.26 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

Institutional Trading of Advance Auto Parts

Several hedge funds have recently bought and sold shares of the stock. Pzena Investment Management LLC boosted its position in shares of Advance Auto Parts by 140.3% in the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after purchasing an additional 1,698,155 shares during the period. Third Point LLC bought a new position in Advance Auto Parts in the 1st quarter worth $127,234,000. Dorsal Capital Management LP boosted its holdings in Advance Auto Parts by 159.7% in the 2nd quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock worth $79,162,000 after buying an additional 768,664 shares during the period. Capital World Investors increased its stake in Advance Auto Parts by 67.0% in the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after buying an additional 615,674 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after acquiring an additional 547,696 shares during the period. Institutional investors own 88.75% of the company’s stock.

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.