Advance Auto Parts’ (AAP) “Neutral” Rating Reaffirmed at Mizuho

Mizuho reiterated their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a research report released on Thursday, MarketBeat Ratings reports. Mizuho currently has a $38.00 target price on the stock, down from their prior target price of $45.00.

A number of other research analysts have also recently weighed in on the stock. Wells Fargo & Company reissued a hold rating and set a $60.00 price objective on shares of Advance Auto Parts in a research note on Tuesday, August 20th. JPMorgan Chase & Co. cut their price target on Advance Auto Parts from $68.00 to $55.00 and set a neutral rating for the company in a report on Friday, August 16th. UBS Group increased their price objective on Advance Auto Parts from $68.00 to $72.00 and gave the company a neutral rating in a research note on Tuesday, May 28th. Bank of America boosted their target price on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an underperform rating in a research note on Thursday, May 30th. Finally, Royal Bank of Canada decreased their price target on shares of Advance Auto Parts from $68.00 to $65.00 and set a sector perform rating on the stock in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $56.54.

Advance Auto Parts Stock Up 4.9 %

Advance Auto Parts stock opened at $41.43 on Thursday. Advance Auto Parts has a fifty-two week low of $37.51 and a fifty-two week high of $88.56. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 60.04, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. The stock’s fifty day moving average is $55.00 and its two-hundred day moving average is $66.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Advance Auto Parts’s quarterly revenue was down .1% on a year-over-year basis. Analysts predict that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Kovack Advisors Inc. increased its position in Advance Auto Parts by 0.7% during the 1st quarter. Kovack Advisors Inc. now owns 22,727 shares of the company’s stock worth $1,934,000 after purchasing an additional 150 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Advance Auto Parts by 28.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 895 shares of the company’s stock worth $76,000 after acquiring an additional 196 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Advance Auto Parts by 8.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,711 shares of the company’s stock valued at $165,000 after acquiring an additional 206 shares during the period. Diversified Trust Co lifted its holdings in shares of Advance Auto Parts by 3.5% during the 2nd quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock valued at $430,000 after acquiring an additional 232 shares in the last quarter. Finally, OLD National Bancorp IN boosted its position in Advance Auto Parts by 6.8% during the 2nd quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after purchasing an additional 237 shares during the period. 88.75% of the stock is owned by hedge funds and other institutional investors.

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.