Wedbush Reaffirms “Outperform” Rating for Advance Auto Parts (NYSE:AAP)

Wedbush reiterated their outperform rating on shares of Advance Auto Parts (NYSE:AAP) in a research report report published on Monday,Benzinga reports. Wedbush currently has a $55.00 target price 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.

Other analysts have also recently issued research reports about the stock. Truist Financial cut their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Citigroup cut their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. UBS Group raised their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. BMO Capital Markets cut their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Finally, Evercore ISI raised their price objective on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.69.

Advance Auto Parts Stock Up 0.1 %

Shares of NYSE:AAP opened at $34.60 on Monday. The firm’s 50 day moving average price is $45.53 and its 200 day moving average price is $43.12. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 47.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. Advance Auto Parts has a fifty-two week low of $33.94 and a fifty-two week high of $88.56. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.89%. Advance Auto Parts’s dividend payout ratio (DPR) is -17.86%.

Hedge Funds Weigh In On Advance Auto Parts

A number of hedge funds and other institutional investors have recently bought and sold shares of AAP. Stephens Inc. AR grew its position in Advance Auto Parts by 7.1% in the 3rd quarter. Stephens Inc. AR now owns 27,704 shares of the company’s stock valued at $1,080,000 after buying an additional 1,828 shares during the last quarter. Easterly Investment Partners LLC boosted its position in shares of Advance Auto Parts by 32.2% during the 3rd quarter. Easterly Investment Partners LLC now owns 43,951 shares of the company’s stock worth $1,714,000 after purchasing an additional 10,709 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Advance Auto Parts by 45.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,909 shares of the company’s stock worth $387,000 after purchasing an additional 3,088 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Advance Auto Parts by 35.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 40,390 shares of the company’s stock worth $1,575,000 after purchasing an additional 10,623 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its position in shares of Advance Auto Parts by 212.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock worth $1,223,000 after purchasing an additional 21,320 shares in the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

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.