Advance Auto Parts (NYSE:AAP) Reaches New 52-Week Low at $172.39


Advance Auto Parts, Inc. (NYSE:AAPGet Rating)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $172.39 and last traded at $172.64, with a volume of 8229 shares. The stock had previously closed at $179.43.

Several equities research analysts have recently commented on AAP shares. Wells Fargo & Company cut their price target on Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 24th. Wedbush cut their price objective on Advance Auto Parts from $270.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, May 24th. Stephens cut their price objective on Advance Auto Parts from $246.00 to $215.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 25th. Citigroup cut their price objective on Advance Auto Parts from $294.00 to $250.00 in a research report on Friday, May 13th. Finally, Morgan Stanley cut their price objective on Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 24th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $244.94.

The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23. The business has a 50 day moving average of $204.58 and a 200 day moving average of $216.80.

Advance Auto Parts (NYSE:AAPGet Rating) last posted its quarterly earnings data on Monday, May 23rd. The company reported $3.57 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.39 billion. Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.34 EPS. Research analysts predict that Advance Auto Parts, Inc. will post 13.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 17th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.47%. Advance Auto Parts’s dividend payout ratio (DPR) is 66.82%.

Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in Advance Auto Parts by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 525,040 shares of the company’s stock valued at $109,676,000 after purchasing an additional 4,942 shares during the period. OPSEU Pension Plan Trust Fund raised its stake in Advance Auto Parts by 23.2% during the 4th quarter. OPSEU Pension Plan Trust Fund now owns 5,253 shares of the company’s stock valued at $1,254,000 after acquiring an additional 990 shares in the last quarter. Donald L. Hagan LLC bought a new stake in shares of Advance Auto Parts in the 4th quarter worth $802,000. CWM LLC bought a new stake in shares of Advance Auto Parts in the 4th quarter worth $3,736,000. Finally, Maverick Capital Ltd. bought a new stake in shares of Advance Auto Parts in the 3rd quarter worth $5,190,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

About Advance Auto Parts (NYSE:AAP)

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.

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Katherine T. Burrows

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