Advance Auto Parts (NYSE:AAP) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Advance Auto Parts (NYSE:AAP - Free Report) to a hold rating in a research note released on Tuesday, Zacks.com reports. Roth Capital also issued estimates for Advance Auto Parts' Q3 2024 earnings at $0.42 EPS, Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.67 EPS and FY2026 earnings at $3.50 EPS.

A number of other brokerages have also weighed in on AAP. TD Cowen lowered their price objective on Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating on the stock in a report on Friday, August 23rd. Mizuho reaffirmed a "neutral" rating and set a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. JPMorgan Chase & Co. reduced their target price on Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, August 16th. Evercore ISI lowered their price target on shares of Advance Auto Parts from $64.00 to $60.00 and set an "in-line" rating on the stock in a research note on Friday, August 23rd. Finally, Wedbush upgraded shares of Advance Auto Parts from a "neutral" rating to an "outperform" rating and set a $55.00 price objective for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Advance Auto Parts currently has a consensus rating of "Hold" and a consensus price target of $55.36.

Advance Auto Parts Stock Performance

Shares of AAP stock traded up $0.74 during midday trading on Tuesday, hitting $39.36. The company had a trading volume of 2,167,568 shares, compared to its average volume of 1,961,788. Advance Auto Parts has a 52-week low of $36.40 and a 52-week high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. The company's 50 day simple moving average is $45.26 and its 200 day simple moving average is $60.17. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 57.04, a PEG ratio of 1.25 and a beta of 1.16.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same quarter last year, the business earned $1.43 earnings per share. The business's quarterly revenue was down .1% on a year-over-year basis. Research analysts anticipate that Advance Auto Parts will post 2.19 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, October 11th. Advance Auto Parts's payout ratio is currently 144.93%.

Institutional Investors Weigh In On Advance Auto Parts

A number of large investors have recently bought and sold shares of AAP. Hexagon Capital Partners LLC boosted its stake in shares of Advance Auto Parts by 267.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company's stock worth $30,000 after purchasing an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Advance Auto Parts during the first quarter worth approximately $34,000. Future Financial Wealth Managment LLC purchased a new stake in Advance Auto Parts in the 1st quarter worth approximately $43,000. Mather Group LLC. raised its holdings in Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $41,000 after acquiring an additional 596 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Advance Auto Parts in the 2nd quarter valued at $41,000. Institutional investors and hedge funds 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.