Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report)'s stock price traded down 7% on Friday . The stock traded as low as $41.23 and last traded at $41.31. 495,936 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 2,065,706 shares. The stock had previously closed at $44.44.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, August 16th. TD Cowen reduced their price target on Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating on the stock in a research note on Friday, August 23rd. The Goldman Sachs Group lowered their price objective on Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Roth Capital upgraded shares of Advance Auto Parts to a "hold" rating in a report on Tuesday, October 15th. Finally, DA Davidson reiterated a "neutral" rating and issued a $45.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Advance Auto Parts currently has an average rating of "Hold" and a consensus target price of $48.64.
Read Our Latest Analysis on Advance Auto Parts
Advance Auto Parts Price Performance
The company has a market capitalization of $2.47 billion, a P/E ratio of 56.64 and a beta of 1.17. 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's 50-day moving average is $39.21 and its 200-day moving average is $52.06.
Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.53). The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.82) EPS. Analysts predict that Advance Auto Parts, Inc. will post -0.51 EPS for the current fiscal year.
Advance Auto Parts Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.42%. Advance Auto Parts's payout ratio is 136.99%.
Institutional Investors Weigh In On Advance Auto Parts
Several institutional investors and hedge funds have recently modified their holdings of the stock. Mather Group LLC. grew its holdings in Advance Auto Parts by 1,241.7% during the 2nd quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $41,000 after buying an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Advance Auto Parts in the second quarter valued at $41,000. Blue Trust Inc. grew its holdings in shares of Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company's stock valued at $47,000 after purchasing an additional 436 shares in the last quarter. AM Squared Ltd purchased a new stake in Advance Auto Parts during the second quarter valued at $63,000. Finally, KBC Group NV lifted its position in Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company's stock valued at $68,000 after purchasing an additional 394 shares during the last quarter. Institutional investors own 88.75% of the company's stock.
About Advance Auto Parts
(
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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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