Advance Auto Parts Inc (NYSE:AAP) Rating Reiterated by Deutsche Bank AG

Deutsche Bank AG reissued their buy rating on shares of Advance Auto Parts Inc (NYSE:AAP) in a research note published on Friday. The brokerage currently has a $139.00 price target on the stock, down from their previous price target of $164.00.

A number of other research analysts have also weighed in on AAP. BTIG Research reissued a sell rating and issued a $120.00 target price on shares of Advance Auto Parts in a report on Tuesday, March 28th. TheStreet lowered shares of Advance Auto Parts from a b rating to a c+ rating in a report on Monday, March 27th. Gabelli raised shares of Advance Auto Parts from a hold rating to a buy rating in a report on Thursday, April 20th. Citigroup Inc. cut their target price on shares of Advance Auto Parts from $177.00 to $168.00 and set a neutral rating for the company in a report on Tuesday, April 25th. Finally, Zacks Investment Research lowered shares of Advance Auto Parts from a hold rating to a sell rating in a report on Tuesday, April 25th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of Hold and a consensus price target of $149.94.

Shares of Advance Auto Parts (NYSE AAP) traded up 1.98% during midday trading on Friday, hitting $105.27. 1,216,390 shares of the stock were exchanged. The company has a market capitalization of $7.77 billion, a P/E ratio of 19.07 and a beta of 0.88. Advance Auto Parts has a 1-year low of $99.13 and a 1-year high of $177.83. The firm has a 50-day moving average of $118.01 and a 200-day moving average of $144.60.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by $0.60. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business posted $2.51 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities analysts expect that Advance Auto Parts will post $6.42 EPS for the current year.

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The business also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 23rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio is currently 4.36%.

In other news, Director Eugene I. Lee, Jr. acquired 1,895 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $132.18 per share, for a total transaction of $250,481.10. Following the completion of the acquisition, the director now directly owns 4,398 shares of the company’s stock, valued at approximately $581,327.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Greco acquired 16,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average price of $134.63 per share, with a total value of $2,154,080.00. Following the completion of the acquisition, the insider now directly owns 111,030 shares of the company’s stock, valued at $14,947,968.90. The disclosure for this purchase can be found here. Insiders have bought 369,462 shares of company stock valued at $49,617,073 over the last three months. Insiders own 4.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock valued at $640,524,000 after buying an additional 4,187,042 shares during the last quarter. Lazard Asset Management LLC increased its stake in Advance Auto Parts by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock valued at $464,848,000 after buying an additional 983,616 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Advance Auto Parts by 51.2% in the first quarter. Point72 Asset Management L.P. now owns 1,538,878 shares of the company’s stock valued at $228,154,000 after buying an additional 521,078 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Advance Auto Parts during the first quarter valued at $66,089,000. Finally, Causeway Capital Management LLC increased its stake in Advance Auto Parts by 44.4% in the first quarter. Causeway Capital Management LLC now owns 1,415,672 shares of the company’s stock valued at $240,970,000 after buying an additional 435,424 shares during the last quarter.

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.