Advance Auto Parts (NYSE:AAP) Given New $64.00 Price Target at Mizuho

Advance Auto Parts (NYSE:AAPFree Report) had its price target trimmed by Mizuho from $78.00 to $64.00 in a report published on Monday morning, Marketbeat Ratings reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also commented on AAP. Evercore ISI cut their price objective on shares of Advance Auto Parts from $80.00 to $72.00 and set an in-line rating on the stock in a research report on Thursday, May 30th. Truist Financial cut their price objective on shares of Advance Auto Parts from $70.00 to $63.00 and set a hold rating on the stock in a research report on Thursday, May 30th. Barclays boosted their price objective 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. Royal Bank of Canada dropped 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 research report on Thursday, May 30th. Finally, Wedbush reiterated a neutral rating and issued a $70.00 price target on shares of Advance Auto Parts in a research note on Friday, May 24th. Two investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to MarketBeat, Advance Auto Parts presently has an average rating of Hold and an average price target of $63.93.

Check Out Our Latest Stock Analysis on Advance Auto Parts

Advance Auto Parts Stock Down 2.1 %

Advance Auto Parts stock opened at $63.20 on Monday. The stock has a market capitalization of $3.77 billion, a PE ratio of 91.59, a price-to-earnings-growth ratio of 1.23 and a beta of 1.20. Advance Auto Parts has a twelve month low of $47.73 and a twelve month high of $88.56. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $73.23 and a 200-day moving average of $68.51.

Advance Auto Parts (NYSE:AAPGet Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. On average, equities research analysts anticipate that Advance Auto Parts will post 3.74 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, July 12th. Advance Auto Parts’s dividend payout ratio is 144.93%.

Insider Buying and Selling

In other Advance Auto Parts news, Director Brent Windom purchased 4,700 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were acquired at an average cost of $85.34 per share, with a total value of $401,098.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $853,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at $899,363.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brent Windom purchased 4,700 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were acquired at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds have recently bought and sold shares of AAP. Allworth Financial LP increased its holdings in Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after buying an additional 266 shares during the period. Principal Securities Inc. bought a new position in Advance Auto Parts in the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC increased its holdings in Advance Auto Parts by 267.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after buying an additional 257 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Advance Auto Parts in the 1st quarter valued at about $34,000. Finally, Quarry LP increased its holdings in Advance Auto Parts by 285.7% in the 4th quarter. Quarry LP now owns 702 shares of the company’s stock valued at $43,000 after buying an additional 520 shares during the period. 88.75% of the stock is owned by institutional investors.

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.

Featured Articles

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.