Advance Auto Parts (NYSE:AAP) Given New $54.00 Price Target at Barclays

Advance Auto Parts (NYSE:AAP) had its price target decreased by Barclays from $66.00 to $54.00 in a report released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other analysts also recently commented on AAP. Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. BMO Capital Markets began coverage on shares of Advance Auto Parts in a report on Friday, December 13th. They issued a “market perform” rating and a $45.00 price target for the company. Roth Mkm reiterated a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. Evercore ISI boosted their target price on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Finally, UBS Group increased their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $47.93.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $45.51 on Thursday. The company has a market capitalization of $2.72 billion, a PE ratio of 62.34 and a beta of 1.16. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The company has a 50 day simple moving average of $42.69 and a two-hundred day simple moving average of $47.49.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.82) earnings per share. Research analysts anticipate that Advance Auto Parts will post -0.54 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is presently 136.99%.

Insider Activity at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares in the company, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AAP. Sei Investments Co. lifted its stake in Advance Auto Parts by 0.5% in the second quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock valued at $3,779,000 after purchasing an additional 277 shares during the last quarter. Qsemble Capital Management LP grew its stake in shares of Advance Auto Parts by 7.6% during the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock worth $256,000 after acquiring an additional 285 shares during the period. Everence Capital Management Inc. increased its holdings in Advance Auto Parts by 3.7% in the 3rd quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock worth $325,000 after acquiring an additional 300 shares during the last quarter. Arizona State Retirement System raised its stake in Advance Auto Parts by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 16,687 shares of the company’s stock valued at $1,057,000 after acquiring an additional 334 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares during the last quarter. 88.75% of the stock is owned by 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.