Advance Auto Parts (NYSE:AAP) Trading Down 5% – Here’s What Happened

Advance Auto Parts, Inc. (NYSE:AAP) was down 5% during trading on Monday . The company traded as low as $46.77 and last traded at $46.23. Approximately 111,573 shares traded hands during trading, a decline of 95% from the average daily volume of 2,420,844 shares. The stock had previously closed at $48.67.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Argus reiterated a “hold” rating and set a $60.52 target price on shares of Advance Auto Parts in a research report on Friday, August 29th. Evercore ISI upped their price target on Advance Auto Parts from $56.00 to $58.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, October 8th. Citigroup dropped their target price on shares of Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Morgan Stanley reduced their price target on shares of Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $51.78.

Advance Auto Parts Price Performance

The stock has a market capitalization of $2.85 billion, a PE ratio of -7.44 and a beta of 1.06. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $56.85 and its 200-day moving average price is $52.42.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.18. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. On average, equities analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, January 9th. Advance Auto Parts’s dividend payout ratio is presently -15.90%.

Institutional Investors Weigh In On Advance Auto Parts

Hedge funds and other institutional investors have recently modified their holdings of the business. AMG National Trust Bank boosted its position in Advance Auto Parts by 38.1% during the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company’s stock valued at $1,710,000 after acquiring an additional 12,040 shares in the last quarter. Gainplan LLC purchased a new stake in shares of Advance Auto Parts during the 2nd quarter worth $700,000. Pzena Investment Management LLC boosted its position in Advance Auto Parts by 1.9% during the second quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock valued at $204,322,000 after purchasing an additional 82,456 shares in the last quarter. Raymond James Financial Inc. boosted its position in Advance Auto Parts by 13.0% during the first quarter. Raymond James Financial Inc. now owns 210,886 shares of the company’s stock valued at $8,269,000 after purchasing an additional 24,342 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Advance Auto Parts by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company’s stock valued at $107,500,000 after purchasing an additional 13,412 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.