Advance Auto Parts, Inc. (NYSE:AAP) Receives $56.54 Average PT from Analysts

Advance Auto Parts, Inc. (NYSE:AAP) has been assigned an average recommendation of “Reduce” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and thirteen have given a hold recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $56.54.

A number of brokerages have weighed in on AAP. Royal Bank of Canada decreased their price target on shares of 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. TD Cowen decreased their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. StockNews.com upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Evercore ISI reduced their target price on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating on the stock in a report on Friday, August 23rd. Finally, Bank of America lifted their target price on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a report on Thursday, May 30th.

Institutional Investors Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently modified their holdings of AAP. Principal Securities Inc. bought a new stake in shares of Advance Auto Parts in the 4th quarter worth about $27,000. Hexagon Capital Partners LLC increased its position in shares of Advance Auto Parts by 267.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after purchasing an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Advance Auto Parts in the 1st quarter worth about $34,000. Mather Group LLC. increased its position in shares of Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after purchasing an additional 596 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Advance Auto Parts in the 2nd quarter worth about $41,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Up 0.8 %

Shares of Advance Auto Parts stock opened at $40.91 on Wednesday. Advance Auto Parts has a fifty-two week low of $37.51 and a fifty-two week high of $88.56. The firm has a market cap of $2.44 billion, a PE ratio of 59.29, a P/E/G ratio of 1.26 and a beta of 1.17. The business’s fifty day moving average is $52.25 and its two-hundred day moving average is $64.98. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last released its earnings results 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). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. Advance Auto Parts’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 earnings per share. Analysts anticipate that Advance Auto Parts 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. Stockholders of record on Friday, October 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s payout ratio is currently 144.93%.

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.