UBS Group Issues Positive Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP) had its price target hoisted by UBS Group from $42.00 to $44.00 in a report issued on Friday, MarketBeat.com reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued reports about the company. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group lowered their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday. Evercore ISI lowered their price objective on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd. Finally, Truist Financial lowered their price objective on Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.14.

Advance Auto Parts Trading Down 8.5 %

Shares of NYSE:AAP traded down $3.51 during trading on Friday, reaching $37.69. 5,899,565 shares of the stock were exchanged, compared to its average volume of 2,053,840. The firm’s 50-day moving average price is $39.02 and its 200 day moving average price is $54.37. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 51.62, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) 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 business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side 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, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AAP. Allspring Global Investments Holdings LLC acquired a new position in Advance Auto Parts during the first quarter valued at $34,000. Oppenheimer & Co. Inc. acquired a new position in Advance Auto Parts in the 1st quarter worth about $292,000. Sei Investments Co. increased its position in Advance Auto Parts by 0.6% in the 1st quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock worth $5,055,000 after purchasing an additional 352 shares during the last quarter. US Bancorp DE increased its position in Advance Auto Parts by 10.3% in the 1st quarter. US Bancorp DE now owns 12,767 shares of the company’s stock worth $1,086,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Advance Auto Parts in the 1st quarter worth about $207,000. 88.75% of the stock is owned by institutional investors and hedge funds.

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.