Advance Auto Parts (NYSE:AAP) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Advance Auto Parts (NYSE:AAP - Free Report) in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a $55.00 price target on the stock. Wedbush also issued estimates for Advance Auto Parts' Q1 2025 earnings at ($0.74) EPS, Q2 2025 earnings at $0.86 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $0.35 EPS, FY2025 earnings at $1.56 EPS, FY2026 earnings at $3.91 EPS and FY2027 earnings at $5.50 EPS.

Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research note on Thursday. Evercore ISI lifted their target price on Advance Auto Parts from $45.00 to $60.00 and gave the stock a "hold" rating in a research report on Wednesday, November 20th. Royal Bank of Canada reduced their price target on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a report on Thursday. UBS Group lifted their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the stock a "neutral" rating in a 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 for the company in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.69.

Advance Auto Parts Stock Down 4.3 %

NYSE AAP traded down $1.59 on Monday, reaching $35.31. The company had a trading volume of 3,368,298 shares, compared to its average volume of 2,161,175. The firm has a market capitalization of $2.11 billion, a PE ratio of 48.37, a P/E/G ratio of 1.98 and a beta of 1.15. The firm has a 50-day moving average of $45.88 and a 200-day moving average of $43.50. Advance Auto Parts has a 1 year low of $35.02 and a 1 year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.83%. Advance Auto Parts's payout ratio is currently -17.86%.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts 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 sale, the executive vice president now owns 24,266 shares of the company's stock, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by company insiders.

Institutional Trading of Advance Auto Parts

Several hedge funds have recently added to or reduced their stakes in AAP. United Advisor Group LLC acquired a new position in shares of Advance Auto Parts during the fourth quarter valued at $356,000. Mackenzie Financial Corp bought a new position in Advance Auto Parts in the 4th quarter valued at about $953,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Advance Auto Parts by 6.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,961 shares of the company's stock valued at $7,470,000 after buying an additional 9,803 shares during the period. Towle & Co. raised its position in shares of Advance Auto Parts by 2.1% during the 4th quarter. Towle & Co. now owns 352,778 shares of the company's stock worth $16,683,000 after buying an additional 7,123 shares in the last quarter. Finally, Tairen Capital Ltd raised its position in shares of Advance Auto Parts by 415.8% during the 4th quarter. Tairen Capital Ltd now owns 215,851 shares of the company's stock worth $10,208,000 after buying an additional 174,000 shares in the last quarter. Institutional investors own 88.75% of the company's stock.

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.