Advance Auto Parts, Inc. (NYSE:AAP)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $188.46 and last traded at $188.33, with a volume of 12617 shares. The stock had previously closed at $183.97.
AAP has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Advance Auto Parts from $165.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 23rd. Atlantic Securities raised shares of Advance Auto Parts from an “underweight” rating to a “neutral” rating and set a $175.00 price objective for the company in a research report on Monday, March 1st. Stephens lifted their price objective on Advance Auto Parts from $175.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, March 26th. Morgan Stanley increased their target price on Advance Auto Parts from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 31st. Finally, UBS Group lifted their target price on Advance Auto Parts from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $163.64.
The company has a current ratio of 1.38, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm has a market cap of $12.33 billion, a PE ratio of 26.74, a P/E/G ratio of 1.31 and a beta of 1.27. The business has a fifty day moving average price of $176.47 and a 200 day moving average price of $161.11.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Monday, February 15th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.97 by ($0.10). Advance Auto Parts had a net margin of 4.84% and a return on equity of 15.75%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company earned $1.64 earnings per share. On average, research analysts expect that Advance Auto Parts, Inc. will post 8.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 2nd. Investors of record on Friday, March 19th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, March 18th. Advance Auto Parts’s dividend payout ratio (DPR) is 12.21%.
A number of institutional investors and hedge funds have recently made changes to their positions in AAP. FMR LLC increased its position in shares of Advance Auto Parts by 287.6% during the first quarter. FMR LLC now owns 139,025 shares of the company’s stock worth $23,708,000 after purchasing an additional 103,160 shares in the last quarter. Truist Financial Corp increased its position in Advance Auto Parts by 3.2% during the third quarter. Truist Financial Corp now owns 11,234 shares of the company’s stock worth $1,724,000 after buying an additional 351 shares during the period. Public Sector Pension Investment Board lifted its stake in Advance Auto Parts by 25.4% in the third quarter. Public Sector Pension Investment Board now owns 8,405 shares of the company’s stock valued at $1,290,000 after buying an additional 1,700 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Advance Auto Parts by 234.5% in the third quarter. AQR Capital Management LLC now owns 65,528 shares of the company’s stock valued at $10,009,000 after acquiring an additional 45,937 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of Advance Auto Parts by 4.0% during the third quarter. Cubist Systematic Strategies LLC now owns 37,424 shares of the company’s stock worth $5,745,000 after acquiring an additional 1,439 shares during the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.
About Advance Auto Parts (NYSE:AAP)
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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