Advance Auto Parts (NYSE:AAP) Price Target Raised to $72.00

Advance Auto Parts (NYSE:AAPFree Report) had its target price lifted by UBS Group from $68.00 to $72.00 in a research report report published on Tuesday, MarketBeat.com reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. Barclays increased their price objective on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an equal weight rating in a research report on Thursday, February 29th. Wedbush reiterated a neutral rating and set a $70.00 price objective on shares of Advance Auto Parts in a research report on Friday, May 24th. Evercore ISI lowered their price objective on shares of Advance Auto Parts from $82.00 to $78.00 and set an in-line rating for the company in a research report on Tuesday, April 16th. Truist Financial raised their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a hold rating in a report on Tuesday, April 2nd. Finally, Mizuho initiated coverage on shares of Advance Auto Parts in a report on Tuesday, March 19th. They issued a neutral rating and a $78.00 target price for the company. Two investment analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts has a consensus rating of Hold and an average price target of $65.56.

Get Our Latest Stock Report on Advance Auto Parts

Advance Auto Parts Price Performance

AAP stock opened at $66.96 on Tuesday. Advance Auto Parts has a 52 week low of $47.73 and a 52 week high of $112.57. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $76.31 and a two-hundred day simple moving average of $67.72. The firm has a market capitalization of $3.99 billion, a P/E ratio of 90.49, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20.

Advance Auto Parts (NYSE:AAPGet Free Report) last released its quarterly earnings data on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.02). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter last year, the business earned $0.72 EPS. Advance Auto Parts’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that Advance Auto Parts will post 3.94 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, July 12th. Advance Auto Parts’s dividend payout ratio (DPR) is 135.14%.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total value of $159,936.64. Following the transaction, the executive vice president now owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total value of $159,936.64. Following the transaction, the executive vice president now owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brent Windom acquired 4,700 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was purchased at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

A number of institutional investors have recently bought and sold shares of AAP. Principal Financial Group Inc. boosted its stake in Advance Auto Parts by 363.2% in the 3rd quarter. Principal Financial Group Inc. now owns 316,158 shares of the company’s stock worth $17,683,000 after purchasing an additional 247,909 shares in the last quarter. Signaturefd LLC lifted its stake in Advance Auto Parts by 20.0% during the 3rd quarter. Signaturefd LLC now owns 1,677 shares of the company’s stock valued at $94,000 after acquiring an additional 279 shares during the period. Arizona State Retirement System lifted its stake in Advance Auto Parts by 4.3% during the 3rd quarter. Arizona State Retirement System now owns 16,925 shares of the company’s stock valued at $947,000 after acquiring an additional 705 shares during the period. Fox Run Management L.L.C. acquired a new stake in Advance Auto Parts during the 3rd quarter valued at approximately $219,000. Finally, Quantbot Technologies LP lifted its stake in Advance Auto Parts by 18.5% during the 3rd quarter. Quantbot Technologies LP now owns 88,487 shares of the company’s stock valued at $4,949,000 after acquiring an additional 13,800 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

About Advance Auto Parts

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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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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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