Brokerages Set Advance Auto Parts, Inc. (NYSE:AAP) Target Price at $64.56

Advance Auto Parts, Inc. (NYSE:AAP) has been given a consensus recommendation of “Reduce” by the nineteen ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $64.56.

Several research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. increased their target price on Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Barclays increased their target price on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Mizuho initiated coverage on Advance Auto Parts in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on shares of Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, Director Carla Jean Bailo bought 310 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now owns 5,789 shares of the company’s stock, valued at $470,008.91. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Brent Windom bought 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were bought at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $853,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carla Jean Bailo bought 310 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the acquisition, 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. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AAP. Fuller & Thaler Asset Management Inc. boosted its holdings in Advance Auto Parts by 2,226.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,026,668 shares of the company’s stock worth $113,352,000 after buying an additional 1,939,560 shares during the period. Pzena Investment Management LLC bought a new position in Advance Auto Parts in the 3rd quarter worth $73,882,000. Federated Hermes Inc. boosted its holdings in Advance Auto Parts by 2,716,800.0% in the 4th quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock worth $51,402,000 after buying an additional 842,208 shares during the period. UBS Group AG boosted its holdings in Advance Auto Parts by 337.7% in the 4th quarter. UBS Group AG now owns 811,734 shares of the company’s stock worth $49,540,000 after buying an additional 626,294 shares during the period. Finally, Norges Bank bought a new position in shares of Advance Auto Parts during the 4th quarter valued at about $37,522,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Up 1.0 %

Shares of AAP stock opened at $78.01 on Friday. The company’s fifty day simple moving average is $74.79 and its two-hundred day simple moving average is $63.89. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29. Advance Auto Parts has a 1 year low of $47.73 and a 1 year high of $128.00. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 105.42, a PEG ratio of 1.42 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (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 business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm earned $2.88 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, analysts anticipate that Advance Auto Parts will post 3.94 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts’s dividend payout ratio is 135.14%.

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.