Jefferies Group LLC Reiterates Buy Rating for Advance Auto Parts Inc (AAP)

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Jefferies Group LLC reaffirmed their buy rating on shares of Advance Auto Parts Inc (NYSE:AAP) in a report issued on Tuesday, September 12th. Jefferies Group LLC currently has a $130.00 target price on the stock.

Several other equities research analysts have also recently commented on AAP. UBS AG reaffirmed a buy rating and issued a $170.00 price target (down previously from $180.00) on shares of Advance Auto Parts in a report on Thursday, May 25th. Barclays PLC reaffirmed an equal weight rating and issued a $90.00 price target (down previously from $93.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Advance Auto Parts in a research note on Tuesday, August 15th. Citigroup Inc. cut their target price on Advance Auto Parts to $99.00 and set a neutral rating for the company in a research note on Wednesday, August 16th. Finally, Bank of America Corporation set a $77.00 target price on Advance Auto Parts and gave the stock a sell rating in a research note on Thursday, August 17th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Advance Auto Parts presently has an average rating of Hold and a consensus target price of $123.08.

Shares of Advance Auto Parts (NYSE:AAP) opened at 99.33 on Tuesday. The firm has a market cap of $7.30 billion, a P/E ratio of 16.02 and a beta of 0.90. Advance Auto Parts has a 52-week low of $82.21 and a 52-week high of $177.83. The company has a 50-day moving average of $99.61 and a 200 day moving average of $125.12.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.07). Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned $1.90 EPS. Advance Auto Parts’s revenue was up .3% compared to the same quarter last year. On average, equities analysts expect that Advance Auto Parts will post $5.16 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, September 21st. Advance Auto Parts’s dividend payout ratio (DPR) is 4.80%.

Several institutional investors and hedge funds have recently bought and sold shares of AAP. Strs Ohio increased its position in shares of Advance Auto Parts by 0.7% during the first quarter. Strs Ohio now owns 3,955 shares of the company’s stock worth $586,000 after purchasing an additional 28 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Advance Auto Parts by 74.0% during the first quarter. Russell Investments Group Ltd. now owns 78,081 shares of the company’s stock worth $11,576,000 after purchasing an additional 33,212 shares in the last quarter. IFP Advisors Inc increased its position in shares of Advance Auto Parts by 3.2% during the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after purchasing an additional 24 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Advance Auto Parts by 51,135.0% during the first quarter. Canada Pension Plan Investment Board now owns 10,247 shares of the company’s stock worth $1,519,000 after purchasing an additional 10,227 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Advance Auto Parts during the first quarter worth about $430,000.

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)




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