Mizuho Cuts Advance Auto Parts (NYSE:AAP) Price Target to $45.00

Advance Auto Parts (NYSE:AAP) had its price objective lowered by Mizuho from $64.00 to $45.00 in a research note released on Monday, Marketbeat.com reports. Mizuho currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on AAP. TD Cowen cut their price target on Advance Auto Parts from $65.00 to $55.00 and set a hold rating for the company in a research note on Friday, August 23rd. Royal Bank of Canada lowered their target price on Advance Auto Parts from $68.00 to $65.00 and set a sector perform rating on the stock in a report on Thursday, May 30th. Wells Fargo & Company reaffirmed a hold rating and issued a $60.00 target price on shares of Advance Auto Parts in a report on Tuesday, August 20th. JPMorgan Chase & Co. lowered their target price on Advance Auto Parts from $68.00 to $55.00 and set a neutral rating on the stock in a report on Friday, August 16th. Finally, Bank of America raised their target price on Advance Auto Parts from $51.00 to $55.00 and gave the company an underperform rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $58.62.

Advance Auto Parts Trading Down 1.1 %

NYSE:AAP opened at $46.15 on Monday. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. Advance Auto Parts has a 1-year low of $45.79 and a 1-year high of $88.56. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 66.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20. The stock has a fifty day simple moving average of $59.54 and a 200 day simple moving average of $68.10.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. Sell-side analysts forecast that Advance Auto Parts will post 3.7 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s dividend payout ratio is 144.93%.

Institutional Trading of Advance Auto Parts

Several institutional investors have recently bought and sold shares of the stock. Creative Planning boosted its stake in Advance Auto Parts by 11.4% in the 2nd quarter. Creative Planning now owns 19,338 shares of the company’s stock valued at $1,225,000 after buying an additional 1,984 shares in the last quarter. Algert Global LLC acquired a new stake in Advance Auto Parts in the 2nd quarter valued at $380,000. Clearline Capital LP boosted its stake in Advance Auto Parts by 115.4% in the 2nd quarter. Clearline Capital LP now owns 405,545 shares of the company’s stock valued at $25,683,000 after buying an additional 217,276 shares in the last quarter. Annandale Capital LLC boosted its stake in Advance Auto Parts by 52.7% in the 2nd quarter. Annandale Capital LLC now owns 69,865 shares of the company’s stock valued at $4,425,000 after buying an additional 24,100 shares in the last quarter. Finally, Scientech Research LLC raised its position in Advance Auto Parts by 150.0% in the 2nd quarter. Scientech Research LLC now owns 24,920 shares of the company’s stock valued at $1,578,000 after purchasing an additional 14,953 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

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.