Evercore ISI Issues Positive Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP) had its price target boosted by Evercore ISI from $52.00 to $56.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an in-line rating on the stock.

AAP has been the subject of a number of other research reports. Redburn Partners raised Advance Auto Parts from a “sell” rating to a “neutral” rating and set a $45.00 price objective for the company in a research note on Tuesday, June 3rd. Wells Fargo & Company set a $35.00 target price on Advance Auto Parts and gave the stock an “equal weight” rating in a report on Monday, May 19th. The Goldman Sachs Group lowered shares of Advance Auto Parts from a “neutral” rating to a “sell” rating and decreased their price target for the company from $48.00 to $46.00 in a research note on Tuesday, June 24th. Roth Capital set a $50.00 price objective on shares of Advance Auto Parts and gave the stock a “neutral” rating in a report on Wednesday, May 28th. Finally, UBS Group reiterated a “neutral” rating and set a $50.00 price objective (up from $36.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.53.

Advance Auto Parts Trading Down 1.6%

NYSE:AAP opened at $58.69 on Friday. Advance Auto Parts has a 12 month low of $28.89 and a 12 month high of $70.00. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -10.00 and a beta of 1.04. The firm has a fifty day simple moving average of $52.05 and a two-hundred day simple moving average of $43.57.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.59. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The business’s revenue was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. Analysts expect that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.25 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.04%.

Insider Activity

In other news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction on Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the sale, the senior vice president directly owned 9,876 shares in the company, valued at $479,183.52. The trade was a 8.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several institutional investors have recently added to or reduced their stakes in the stock. REAP Financial Group LLC bought a new position in Advance Auto Parts during the second quarter valued at $26,000. Hexagon Capital Partners LLC lifted its position in shares of Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $28,000 after buying an additional 465 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Advance Auto Parts by 355.8% during the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock valued at $44,000 after buying an additional 733 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Advance Auto Parts during the 4th quarter worth $46,000. Finally, Financial Management Professionals Inc. purchased a new stake in Advance Auto Parts in the 1st quarter worth about $49,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Company Profile

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.