Advance Auto Parts Rating Reiterated by Zacks (AAP)

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Advance Auto Parts (NYSE: AAP)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Thursday, Stock Ratings Network.com reports. They currently have a $86.00 target price on the stock. Zacks‘ price objective would indicate a potential upside of 3.93% from the company’s current price.

Zacks‘ analyst wrote, “Advance Auto parts aims to improve its supply chain and vendor terms by pursuing an aggressive store expansion strategy. In 2012, the company has opened 137 stores. Further, aggressive share repurchase policy is expected to boost its earnings per share. However, the sluggish economy, volatile gasoline prices and pricing are some of the challenges facing the company. The company’s earnings dipped 7.8% to $1.65 per share in the first quarter but beat the Zacks Consensus Estimate of $1.61 per share. As such, we continue to recommend the shares as Neutral and set a target price of $86.00. “

A number of other analysts have also recently weighed in on AAP. Analysts at UBS AG reiterated a “buy” rating on shares of Advance Auto Parts in a research note to investors on Tuesday, May 28th. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Advance Auto Parts in a research note to investors on Friday, May 24th. They now have a $82.00 price target on the stock. Finally, analysts at Oppenheimer reiterated a “hold” rating on shares of Advance Auto Parts in a research note to investors on Friday, May 24th. They now have a $80.00 price target on the stock.

Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $122.31.

Advance Auto Parts (NYSE: AAP) opened at 82.75 on Thursday. Advance Auto Parts has a 52-week low of $60.87 and a 52-week high of $88.74. The stock’s 50-day moving average is currently $84.0. The company has a market cap of $6.057 billion and a price-to-earnings ratio of 16.30.

Advance Auto Parts (NYSE: AAP) last released its earnings data on Thursday, May 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the company posted $1.79 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that Advance Auto Parts will post $5.49 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, July 5th. Stockholders of record on Friday, June 21st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, June 19th.

Advance Auto Parts, Inc. (NYSE: AAP) is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items primarily operating within the United States.

To view Zacks’ full report, visit www.zacks.com

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