Advance Auto Parts (NYSE:AAP) Rating Increased to Buy at Guggenheim

Guggenheim upgraded shares of Advance Auto Parts (NYSE:AAP) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, April 17th, Marketbeat Ratings reports. The firm currently has $131.00 target price on the stock.

A number of other equities analysts also recently weighed in on the stock. Stephens reissued a hold rating and set a $113.00 target price (up previously from $58.00) on shares of Advance Auto Parts in a research note on Thursday, February 22nd. Zacks Investment Research upgraded shares of Advance Auto Parts from a hold rating to a buy rating and set a $130.00 price objective for the company in a report on Tuesday, January 16th. JPMorgan Chase lifted their price objective on shares of Advance Auto Parts from $110.00 to $138.00 and gave the company an overweight rating in a report on Friday, January 26th. Robert W. Baird restated a neutral rating and set a $125.00 price target (up from $100.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Finally, Credit Suisse Group lifted their price objective on shares of Advance Auto Parts from $100.00 to $122.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $112.98.

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NYSE AAP opened at $106.93 on Tuesday. Advance Auto Parts has a 1 year low of $78.81 and a 1 year high of $151.72. The company has a current ratio of 1.56, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31. The company has a market cap of $7,806.17, a P/E ratio of 19.91, a PEG ratio of 1.27 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.12. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share. equities analysts expect that Advance Auto Parts will post 6.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 6th. Investors of record on Friday, March 23rd were paid a $0.06 dividend. The ex-dividend date was Thursday, March 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Advance Auto Parts’s payout ratio is 4.47%.

In related news, EVP Tammy M. Finley sold 342 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $116.35, for a total transaction of $39,791.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Brouillard sold 1,745 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $116.08, for a total transaction of $202,559.60. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Advance Auto Parts by 78.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,024 shares of the company’s stock valued at $4,976,000 after acquiring an additional 21,990 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Advance Auto Parts by 10.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 408,141 shares of the company’s stock valued at $40,489,000 after acquiring an additional 39,315 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Advance Auto Parts by 54.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,242 shares of the company’s stock valued at $322,000 after acquiring an additional 1,144 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Advance Auto Parts by 342.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 15,810 shares of the company’s stock valued at $1,568,000 after acquiring an additional 12,240 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Advance Auto Parts by 4.0% during the 3rd quarter. California Public Employees Retirement System now owns 172,961 shares of the company’s stock valued at $17,158,000 after acquiring an additional 6,578 shares during the last quarter.

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About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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