Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) have been assigned an average rating of "Hold" from the sixteen brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $48.40.

A number of research analysts have issued reports on AAP shares. Mizuho reissued a "neutral" rating and issued a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. BMO Capital Markets assumed coverage on Advance Auto Parts in a research note on Friday, December 13th. They set a "market perform" rating and a $45.00 target price for the company. Royal Bank of Canada dropped their target price on shares of Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating on the stock in a report on Monday, November 11th. Roth Mkm reiterated a "neutral" rating and issued a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. Finally, Truist Financial dropped their price objective on shares of Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating on the stock in a report on Friday, November 15th.

Advance Auto Parts Trading Down 0.4 %

Advance Auto Parts stock traded down $0.18 during midday trading on Friday, hitting $44.06. 1,137,413 shares of the stock were exchanged, compared to its average volume of 2,062,823. The stock has a market capitalization of $2.63 billion, a PE ratio of 60.36 and a beta of 1.21. The company has a fifty day simple moving average of $41.12 and a two-hundred day simple moving average of $48.72. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 52 week low of $35.59 and a 52 week high of $88.56.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share 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 firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the business earned ($0.82) earnings per share. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Advance Auto Parts will post -0.54 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th 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 2.27%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts's dividend payout ratio is currently 136.99%.

Insider Activity

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company's stock, valued at $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Institutional Trading of Advance Auto Parts

A number of hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Advance Auto Parts during the 3rd quarter worth about $1,117,000. Savoie Capital LLC raised its holdings in Advance Auto Parts by 117.2% in the 3rd quarter. Savoie Capital LLC now owns 69,500 shares of the company's stock valued at $2,710,000 after acquiring an additional 37,500 shares during the period. XTX Topco Ltd acquired a new stake in Advance Auto Parts during the third quarter worth approximately $503,000. Redwood Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 26.4% during the third quarter. Redwood Investment Management LLC now owns 10,858 shares of the company's stock worth $449,000 after acquiring an additional 2,269 shares during the period. Finally, Maple Rock Capital Partners Inc. acquired a new position in shares of Advance Auto Parts in the third quarter valued at approximately $9,046,000. 88.75% of the stock is owned by institutional investors and hedge funds.

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.