Advance Auto Parts (NYSE:AAP) Stock Passes Above 50 Day Moving Average of $155.61

Share on StockTwits

Shares of Advance Auto Parts, Inc. (NYSE:AAP) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $155.61 and traded as high as $156.16. Advance Auto Parts shares last traded at $155.72, with a volume of 13,855 shares traded.

Several research firms have recently commented on AAP. Wells Fargo & Co reissued a “hold” rating and issued a $175.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, May 22nd. Goldman Sachs Group raised shares of Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Thursday. William Blair reissued an “outperform” rating on shares of Advance Auto Parts in a research note on Wednesday, May 22nd. Evercore ISI began coverage on shares of Polarityte in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, Wedbush set a $9.00 price objective on shares of GameStop and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. Advance Auto Parts currently has a consensus rating of “Buy” and a consensus price target of $189.33.

The business’s fifty day moving average is $155.34. The stock has a market capitalization of $11.21 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.31 and a current ratio of 1.35.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Wednesday, May 22nd. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.10. Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company earned $2.10 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts predict that Advance Auto Parts, Inc. will post 8.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 21st were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.24 dividend on an annualized basis and a yield of 0.15%. Advance Auto Parts’s payout ratio is currently 3.37%.

Several institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Advance Auto Parts by 0.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,212 shares of the company’s stock valued at $3,788,000 after acquiring an additional 66 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of Advance Auto Parts by 3.1% in the 1st quarter. Contravisory Investment Management Inc. now owns 2,468 shares of the company’s stock valued at $421,000 after acquiring an additional 74 shares during the period. Trust Co. of Vermont increased its holdings in shares of Advance Auto Parts by 4.5% in the 1st quarter. Trust Co. of Vermont now owns 1,888 shares of the company’s stock valued at $322,000 after acquiring an additional 81 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Advance Auto Parts by 1.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,815 shares of the company’s stock valued at $1,504,000 after acquiring an additional 84 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of Advance Auto Parts by 3.2% in the 1st quarter. Stephens Inc. AR now owns 2,969 shares of the company’s stock valued at $506,000 after acquiring an additional 93 shares during the period. 98.87% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: What are the FAANG Stocks?

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.