Advance Auto Parts (NYSE:AAP) Lowered to Hold at ValuEngine

ValuEngine lowered shares of Advance Auto Parts (NYSE:AAP) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

AAP has been the topic of a number of other research reports. Evercore ISI started coverage on shares of Advance Auto Parts in a report on Wednesday, March 20th. They set an outperform rating and a $185.00 price target on the stock. Jefferies Financial Group cut their price target on shares of Advance Auto Parts to $195.00 and set a buy rating on the stock in a report on Wednesday, February 20th. Wells Fargo & Co restated a hold rating and set a $175.00 price target on shares of Advance Auto Parts in a report on Tuesday, February 19th. Credit Suisse Group restated a buy rating and set a $195.00 price target on shares of Advance Auto Parts in a report on Tuesday, February 19th. Finally, Zacks Investment Research downgraded shares of Advance Auto Parts from a buy rating to a hold rating in a report on Wednesday, February 13th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Advance Auto Parts presently has an average rating of Buy and an average target price of $190.71.

Shares of NYSE:AAP opened at $152.17 on Tuesday. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 1.63 and a beta of 0.97. Advance Auto Parts has a 12-month low of $131.49 and a 12-month high of $186.15. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.31.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.10. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.94 billion. Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $2.10 EPS. Equities analysts forecast that Advance Auto Parts will post 8.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be issued a $0.06 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.24 annualized dividend and a yield of 0.16%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.37%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nelson Roberts Investment Advisors LLC bought a new position in Advance Auto Parts in the 1st quarter worth $40,000. Pinnacle Financial Partners Inc. bought a new position in Advance Auto Parts in the 1st quarter worth $43,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Advance Auto Parts by 38.2% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 329 shares of the company’s stock worth $52,000 after acquiring an additional 91 shares during the period. Zions Bancorporation N.A. raised its holdings in Advance Auto Parts by 258.9% in the 1st quarter. Zions Bancorporation N.A. now owns 402 shares of the company’s stock worth $69,000 after acquiring an additional 290 shares during the period. Finally, Enlightenment Research LLC bought a new position in Advance Auto Parts in the 4th quarter worth $79,000. Hedge funds and other institutional investors own 98.99% 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.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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