Advance Auto Parts (NYSE:AAP) Price Target Lowered to $43.00 at The Goldman Sachs Group

Advance Auto Parts (NYSE:AAP) had its target price trimmed by The Goldman Sachs Group from $60.00 to $43.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. Roth Mkm reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Mizuho reissued a “neutral” rating and issued a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Royal Bank of Canada lowered their target price on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. Finally, Wedbush raised shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 target price for the company in a report on Tuesday, October 15th. One 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 MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and an average target price of $49.14.

Advance Auto Parts Stock Performance

Shares of NYSE AAP opened at $37.69 on Friday. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 51.63 and a beta of 1.17. The company has a current ratio of 1.34, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $39.02 and a 200 day moving average of $54.11.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the firm earned ($0.82) EPS. The company’s revenue was down 3.2% on a year-over-year basis. On average, research analysts anticipate that Advance Auto Parts will post 2.26 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio is presently 136.99%.

Hedge Funds Weigh In On Advance Auto Parts

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Advance Auto Parts during the 1st quarter worth approximately $34,000. Oppenheimer & Co. Inc. bought a new stake in shares of Advance Auto Parts during the first quarter worth $292,000. Sei Investments Co. boosted its stake in shares of Advance Auto Parts by 0.6% during the first quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock valued at $5,055,000 after purchasing an additional 352 shares during the period. US Bancorp DE grew its holdings in shares of Advance Auto Parts by 10.3% in the first quarter. US Bancorp DE now owns 12,767 shares of the company’s stock worth $1,086,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in Advance Auto Parts in the 1st quarter worth about $207,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

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.