Advance Auto Parts (NYSE:AAP) Receives “Neutral” Rating from Roth Mkm

Roth Mkm reaffirmed their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a report issued on Wednesday morning, MarketBeat Ratings reports. Roth Mkm currently has a $40.00 target price on the stock.

Several other analysts have also weighed in on AAP. TD Cowen lowered their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. reduced their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Mizuho reissued a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. Wells Fargo & Company reduced their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Wedbush raised shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price target for the company in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.36.

Advance Auto Parts Stock Up 1.1 %

Advance Auto Parts stock opened at $39.82 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. Advance Auto Parts has a 52-week low of $36.40 and a 52-week high of $88.56. The firm has a 50 day moving average price of $44.42 and a two-hundred day moving average price of $59.54. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 57.71, a PEG ratio of 1.25 and a beta of 1.16.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.22). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 EPS. Equities analysts predict that Advance Auto Parts will post 2.19 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s payout ratio is 144.93%.

Institutional Investors Weigh In On Advance Auto Parts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BW Gestao de Investimentos Ltda. bought a new stake in Advance Auto Parts in the 2nd quarter valued at about $7,916,000. Renaissance Technologies LLC raised its stake in Advance Auto Parts by 26.9% in the 2nd quarter. Renaissance Technologies LLC now owns 185,450 shares of the company’s stock valued at $11,745,000 after acquiring an additional 39,300 shares during the period. AQR Capital Management LLC raised its stake in Advance Auto Parts by 31.0% in the 2nd quarter. AQR Capital Management LLC now owns 233,521 shares of the company’s stock valued at $14,740,000 after acquiring an additional 55,226 shares during the period. Private Advisor Group LLC bought a new stake in Advance Auto Parts in the 1st quarter valued at about $1,172,000. Finally, State Board of Administration of Florida Retirement System raised its stake in Advance Auto Parts by 24.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 77,031 shares of the company’s stock valued at $6,555,000 after acquiring an additional 15,093 shares during the period. 88.75% of the stock is currently owned by 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.