Advance Auto Parts (NYSE:AAP) Hits New 12-Month Low at $39.40

Advance Auto Parts, Inc. (NYSE:AAP)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $39.40 and last traded at $39.84, with a volume of 128168 shares trading hands. The stock had previously closed at $39.76.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group boosted their target price on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. 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 research note on Thursday, May 30th. Wedbush reaffirmed a “neutral” rating and issued a $55.00 price target (down from $65.00) on shares of Advance Auto Parts in a report on Friday, August 23rd. StockNews.com raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Finally, Evercore ISI dropped their target price on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.62.

Advance Auto Parts Trading Down 0.5 %

The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 55.86, a PEG ratio of 1.30 and a beta of 1.18. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. The business has a 50 day simple moving average of $56.17 and a 200-day simple moving average of $66.95.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Advance Auto Parts’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts expect that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s payout ratio is presently 144.93%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Truist Financial Corp lifted its position in shares of Advance Auto Parts by 18.3% in the fourth quarter. Truist Financial Corp now owns 12,380 shares of the company’s stock worth $756,000 after purchasing an additional 1,914 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Advance Auto Parts by 19.3% during the 4th quarter. Victory Capital Management Inc. now owns 12,519 shares of the company’s stock worth $764,000 after buying an additional 2,027 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Advance Auto Parts by 60.7% in the 4th quarter. Natixis Advisors L.P. now owns 21,681 shares of the company’s stock valued at $1,323,000 after acquiring an additional 8,189 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Advance Auto Parts in the fourth quarter valued at about $228,000. Finally, Principal Securities Inc. bought a new stake in Advance Auto Parts during the fourth quarter worth about $27,000. 88.75% of the stock is currently owned by institutional investors.

About Advance Auto Parts

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.