Advance Auto Parts, Inc. (NYSE:AAP) Receives Average Recommendation of "Hold" from Analysts

Shares of Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) have received a consensus rating of "Hold" from the sixteen ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $48.64.

A number of equities analysts have issued reports on AAP shares. UBS Group raised their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Truist Financial reduced their price target 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. Royal Bank of Canada cut their target price on Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Monday, November 11th. DA Davidson restated a "neutral" rating and issued a $45.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Wells Fargo & Company cut their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an "equal weight" rating for the company in a research note on Friday, September 13th.

Hedge Funds Weigh In On Advance Auto Parts

A number of hedge funds have recently modified their holdings of the company. Tidal Investments LLC grew its position in Advance Auto Parts by 12.4% during the 1st quarter. Tidal Investments LLC now owns 14,590 shares of the company's stock valued at $1,242,000 after purchasing an additional 1,612 shares during the last quarter. Cetera Advisors LLC bought a new position in Advance Auto Parts in the 1st quarter worth $487,000. GAMMA Investing LLC grew its stake in shares of Advance Auto Parts by 60.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,658 shares of the company's stock valued at $105,000 after acquiring an additional 627 shares during the period. Mather Group LLC. increased its stake in 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 buying an additional 596 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in Advance Auto Parts by 66.1% in the 2nd quarter. Simplicity Wealth LLC now owns 4,044 shares of the company's stock worth $256,000 after purchasing an additional 1,609 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.

Advance Auto Parts Stock Performance

NYSE:AAP traded up $1.25 during mid-day trading on Monday, hitting $42.60. 2,769,159 shares of the company's stock traded hands, compared to its average volume of 2,079,202. The firm has a 50 day moving average of $39.21 and a two-hundred day moving average of $51.73. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 58.74 and a beta of 1.17. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. 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 announced its quarterly earnings data 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). The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.82) EPS. On average, equities analysts forecast that Advance Auto Parts will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.35%. Advance Auto Parts's payout ratio is 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.