Advance Auto Parts’ (AAP) Overweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Advance Auto Parts Inc (NYSE:AAP) in a research note issued to investors on Wednesday morning.

Other equities research analysts have also recently issued reports about the stock. Gabelli reaffirmed a buy rating on shares of Advance Auto Parts in a research report on Wednesday, August 16th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $114.00 target price (down from $133.00) on shares of Advance Auto Parts in a research report on Wednesday, August 16th. UBS AG reaffirmed a buy rating and issued a $155.00 target price (down from $170.00) on shares of Advance Auto Parts in a research report on Monday, August 7th. Deutsche Bank AG reaffirmed a buy rating and issued a $139.00 target price (down from $164.00) on shares of Advance Auto Parts in a research report on Friday, July 21st. Finally, Credit Suisse Group set a $100.00 target price on shares of Advance Auto Parts and gave the stock a buy rating in a research report on Wednesday, August 16th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $109.57.

Advance Auto Parts (NYSE AAP) traded down $4.14 during trading hours on Wednesday, hitting $91.58. 3,073,900 shares of the stock traded hands, compared to its average volume of 1,689,797. Advance Auto Parts has a 12-month low of $78.81 and a 12-month high of $177.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 1.48. The stock has a market cap of $6,690.00, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.76 and a beta of 0.90.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, November 14th. The company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.18. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.74%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the company posted $1.73 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. equities research analysts expect that Advance Auto Parts will post 5.11 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2017/11/16/advance-auto-parts-aap-overweight-rating-reaffirmed-at-morgan-stanley.html.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Advance Auto Parts’s dividend payout ratio is currently 5.03%.

Hedge funds have recently made changes to their positions in the company. Tobam bought a new stake in shares of Advance Auto Parts in the second quarter worth approximately $118,000. QS Investors LLC grew its stake in shares of Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after acquiring an additional 9 shares during the period. Huntington National Bank grew its stake in shares of Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after acquiring an additional 283 shares during the period. Global X Management Co. LLC grew its stake in shares of Advance Auto Parts by 14.3% in the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after acquiring an additional 139 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of Advance Auto Parts by 57.5% in the second quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock worth $141,000 after acquiring an additional 441 shares during the period.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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

Latest News

Leave a Reply