Advance Auto Parts (NYSE:AAP) Trading Up 13.2%

Advance Auto Parts, Inc. (NYSE:AAP)’s stock price was up 13.2% during trading on Monday . The company traded as high as $98.30 and last traded at $95.81, approximately 1,378,255 shares changed hands during trading. An increase of 12% from the average daily volume of 1,228,457 shares. The stock had previously closed at $84.65.

A number of equities research analysts recently commented on AAP shares. Atlantic Securities lowered shares of Advance Auto Parts from an “overweight” rating to a “neutral” rating and set a $159.00 price target for the company. in a report on Thursday, January 23rd. Cfra lowered their price target on shares of Advance Auto Parts from $160.00 to $155.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price objective on shares of Advance Auto Parts from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Credit Suisse Group reduced their price objective on shares of Advance Auto Parts from $175.00 to $133.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. Finally, Zacks Investment Research raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating and set a $149.00 price objective on the stock in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $147.73.

The stock’s 50-day moving average price is $113.26 and its two-hundred day moving average price is $144.60. The stock has a market capitalization of $5.86 billion, a PE ratio of 14.01, a P/E/G ratio of 0.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.28 and a current ratio of 1.27.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, February 18th. The company reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.29. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.12 billion. Advance Auto Parts had a net margin of 5.01% and a return on equity of 16.41%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. On average, analysts predict that Advance Auto Parts, Inc. will post 8.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 20th were given a $0.25 dividend. The ex-dividend date was Thursday, March 19th. This is an increase from Advance Auto Parts’s previous quarterly dividend of $0.06. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Advance Auto Parts’s dividend payout ratio is currently 12.21%.

A number of hedge funds have recently made changes to their positions in AAP. Norges Bank purchased a new stake in Advance Auto Parts during the 4th quarter valued at about $112,393,000. Bank of America Corp DE grew its position in Advance Auto Parts by 52.5% during the 4th quarter. Bank of America Corp DE now owns 1,132,971 shares of the company’s stock valued at $181,457,000 after purchasing an additional 390,256 shares during the last quarter. William Blair Investment Management LLC grew its position in Advance Auto Parts by 66.5% during the 4th quarter. William Blair Investment Management LLC now owns 926,038 shares of the company’s stock valued at $148,314,000 after purchasing an additional 369,905 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Advance Auto Parts by 53.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 942,304 shares of the company’s stock valued at $149,977,000 after purchasing an additional 326,560 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Advance Auto Parts by 51.5% during the 4th quarter. Alliancebernstein L.P. now owns 596,127 shares of the company’s stock valued at $95,476,000 after purchasing an additional 202,568 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors.

Advance Auto Parts Company Profile (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.

See Also: Forex

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.