UBS Group Boosts Advance Auto Parts (NYSE:AAP) Price Target to $44.00

Advance Auto Parts (NYSE:AAP) had its target price raised by UBS Group from $42.00 to $44.00 in a research report sent to investors on Friday, MarketBeat.com reports. UBS Group currently has a neutral rating on the stock.

Several other research firms also recently weighed in on AAP. The Goldman Sachs Group dropped their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday. Roth Mkm reiterated a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, October 16th. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. Royal Bank of Canada decreased their target price on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $49.14.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $37.69 on Friday. The company has a market capitalization of $2.25 billion, a PE ratio of 51.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.34. The stock has a fifty day moving average of $39.02 and a 200-day moving average of $54.11. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the company earned ($0.82) earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts anticipate that Advance Auto Parts will post 2.26 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

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

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in Advance Auto Parts by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,998,910 shares of the company’s stock worth $340,268,000 after buying an additional 40,669 shares during the last quarter. Pzena Investment Management LLC boosted its stake in shares of Advance Auto Parts by 140.3% during the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after acquiring an additional 1,698,155 shares in the last quarter. Capital World Investors increased its holdings in shares of Advance Auto Parts by 67.0% during the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock valued at $130,522,000 after acquiring an additional 615,674 shares during the last quarter. Third Point LLC bought a new position in shares of Advance Auto Parts in the 1st quarter valued at approximately $127,234,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Advance Auto Parts by 76.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after purchasing an additional 547,696 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

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.