Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report) have received a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $47.93.
AAP has been the subject of a number of recent research reports. Truist Financial decreased their price objective on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday, November 15th. Wells Fargo & Company upped their price target on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. DA Davidson reiterated a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. The Goldman Sachs Group reduced their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Barclays reduced their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th.
Read Our Latest Research Report on Advance Auto Parts
Insider Transactions at Advance Auto Parts
Hedge Funds Weigh In On Advance Auto Parts
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its holdings in shares of Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after buying an additional 1,698,155 shares during the period. Dorsal Capital Management LP lifted its holdings in Advance Auto Parts by 159.7% during the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock worth $79,162,000 after acquiring an additional 768,664 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Advance Auto Parts by 76.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after acquiring an additional 547,696 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Advance Auto Parts in the third quarter worth about $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Advance Auto Parts during the third quarter worth about $14,684,000. Institutional investors own 88.75% of the company’s stock.
Advance Auto Parts Stock Up 0.4 %
AAP stock opened at $45.93 on Tuesday. The firm has a 50 day simple moving average of $43.88 and a 200 day simple moving average of $46.46. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The firm has a market cap of $2.74 billion, a PE ratio of 62.91, a P/E/G ratio of 2.15 and a beta of 1.16. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56.
Advance Auto Parts (NYSE:AAP – Get Free Report) last posted its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the company earned ($0.82) earnings per share. Advance Auto Parts’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Advance Auto Parts will post -0.52 earnings per share for the current fiscal year.
Advance Auto Parts Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.18%. Advance Auto Parts’s payout ratio is presently 136.99%.
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.
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