Analysts Set Advance Auto Parts, Inc. (NYSE:AAP) Target Price at $51.78

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned a consensus recommendation of “Reduce” from the twenty-four analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $51.7845.

Several equities analysts have weighed in on AAP shares. Evercore ISI raised their price objective on Advance Auto Parts from $56.00 to $58.00 and gave the company an “in-line” rating in a research note on Tuesday, August 12th. Wells Fargo & Company raised their price target on shares of Advance Auto Parts from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, August 15th. Argus restated a “hold” rating and set a $60.52 price target on shares of Advance Auto Parts in a report on Friday, August 29th. Morgan Stanley decreased their price objective on shares of Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Advance Auto Parts from $44.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st.

Insider Transactions at Advance Auto Parts

In other news, EVP Kristen L. Soler sold 7,662 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the completion of the sale, the executive vice president directly owned 23,165 shares of the company’s stock, valued at $1,181,415. This trade represents a 24.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several institutional investors have recently added to or reduced their stakes in AAP. New York State Common Retirement Fund raised its position in Advance Auto Parts by 22.2% in the first quarter. New York State Common Retirement Fund now owns 46,558 shares of the company’s stock worth $1,826,000 after acquiring an additional 8,452 shares during the period. AMG National Trust Bank grew its position in shares of 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 during the period. Allianz Asset Management GmbH increased its stake in shares of Advance Auto Parts by 8.0% during the 1st quarter. Allianz Asset Management GmbH now owns 799,675 shares of the company’s stock worth $31,355,000 after purchasing an additional 59,441 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Advance Auto Parts in the 1st quarter worth approximately $718,000. Finally, Cetera Investment Advisers bought a new stake in shares of Advance Auto Parts in the 1st quarter worth approximately $335,000. Institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Price Performance

AAP stock opened at $51.70 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The business has a 50-day simple moving average of $54.77 and a two-hundred day simple moving average of $53.34. The company has a market capitalization of $3.10 billion, a P/E ratio of -8.12 and a beta of 1.06. Advance Auto Parts has a 52-week low of $28.89 and a 52-week high of $70.00.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.74 by $0.18. The firm had revenue of $2.04 billion during 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. Research analysts expect that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, January 9th. Advance Auto Parts’s dividend payout ratio (DPR) is -15.90%.

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.