Advance Auto Parts, Inc. (NYSE:AAP) Receives Consensus Rating of “Reduce” from Analysts

Advance Auto Parts, Inc. (NYSE:AAP) has been assigned an average recommendation of “Reduce” from the twenty-three research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $52.0345.

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on Advance Auto Parts from $51.00 to $53.00 and gave the stock a “hold” rating in a research report on Friday, August 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research note on Saturday, September 27th. Evercore ISI lifted their price target on Advance Auto Parts from $56.00 to $58.00 and gave the company an “in-line” rating in a report on Tuesday, August 12th. Wall Street Zen raised Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Citigroup set a $60.00 price objective on shares of Advance Auto Parts in a research report on Thursday, August 14th.

Advance Auto Parts Stock Performance

Shares of NYSE:AAP opened at $61.42 on Friday. The business’s fifty day moving average price is $59.35 and its two-hundred day moving average price is $49.07. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -9.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, August 14th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, analysts predict that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 annualized dividend and a yield of 1.6%. Advance Auto Parts’s dividend payout ratio is currently -15.70%.

Institutional Investors Weigh In On Advance Auto Parts

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC raised its position in shares of Advance Auto Parts by 3.1% during the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock worth $293,000 after acquiring an additional 191 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Advance Auto Parts by 2.0% in the second quarter. Rockefeller Capital Management L.P. now owns 14,535 shares of the company’s stock worth $676,000 after purchasing an additional 283 shares during the period. Central Pacific Bank Trust Division increased its position in Advance Auto Parts by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company’s stock worth $129,000 after purchasing an additional 300 shares during the period. KLP Kapitalforvaltning AS increased its position in Advance Auto Parts by 2.5% in the second quarter. KLP Kapitalforvaltning AS now owns 12,500 shares of the company’s stock worth $581,000 after purchasing an additional 300 shares during the period. Finally, Capital Square LLC boosted its stake in shares of Advance Auto Parts by 4.3% in the 2nd quarter. Capital Square LLC now owns 7,265 shares of the company’s stock valued at $338,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

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.