Advance Auto Parts, Inc. (NYSE:AAP) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Advance Auto Parts, Inc. (NYSE:AAPGet Free Report) have been given a consensus rating of “Reduce” by the nineteen ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $69.88.

AAP has been the topic of a number of analyst reports. Barclays increased their target price on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Truist Financial increased their target price on shares of Advance Auto Parts from $53.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Mizuho initiated coverage on shares of Advance Auto Parts in a research report on Tuesday, March 19th. They set a “neutral” rating and a $78.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada increased their target price on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th.

Check Out Our Latest Report on Advance Auto Parts

Insider Activity at Advance Auto Parts

In related news, Director Carla Jean Bailo acquired 310 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average price of $81.19 per share, with a total value of $25,168.90. Following the purchase, the director now directly owns 5,789 shares in the company, valued at $470,008.91. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Herman L. Word, Jr. sold 1,858 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the transaction, the executive vice president now owns 10,448 shares of the company’s stock, valued at $899,363.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carla Jean Bailo purchased 310 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were acquired at an average cost of $81.19 per share, with a total value of $25,168.90. Following the purchase, the director now directly owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The disclosure for this purchase can be found here. 0.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several large investors have recently modified their holdings of AAP. Caxton Associates LP acquired a new stake in shares of Advance Auto Parts during the third quarter worth $1,223,000. Kepos Capital LP acquired a new stake in shares of Advance Auto Parts during the third quarter worth $3,356,000. Public Sector Pension Investment Board increased its position in shares of Advance Auto Parts by 1,173.5% during the third quarter. Public Sector Pension Investment Board now owns 73,471 shares of the company’s stock worth $4,109,000 after buying an additional 67,702 shares during the period. Rhumbline Advisers increased its position in shares of Advance Auto Parts by 28.9% during the third quarter. Rhumbline Advisers now owns 164,334 shares of the company’s stock worth $9,191,000 after buying an additional 36,872 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Advance Auto Parts by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,531,146 shares of the company’s stock worth $85,637,000 after buying an additional 107,540 shares during the period. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Shares of AAP opened at $84.25 on Wednesday. Advance Auto Parts has a 52 week low of $47.73 and a 52 week high of $129.90. The firm has a market cap of $5.02 billion, a P/E ratio of 113.85, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. The firm’s 50-day simple moving average is $69.82 and its 200 day simple moving average is $60.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20.

Advance Auto Parts (NYSE:AAPGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the company posted $2.88 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts forecast that Advance Auto Parts will post 3.95 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, April 11th. Advance Auto Parts’s payout ratio is 135.14%.

Advance Auto Parts Company Profile

(Get Free Report

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.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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