Brokerages Set Advance Auto Parts, Inc. (NYSE:AAP) PT at $48.64

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned an average recommendation of “Hold” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $48.64.

Several research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Truist Financial lowered their price objective on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. JPMorgan Chase & Co. cut their target price on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. TD Cowen lowered their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th.

Advance Auto Parts Stock Performance

NYSE AAP opened at $44.97 on Monday. The company’s 50 day simple moving average is $39.51 and its two-hundred day simple moving average is $50.71. The stock has a market capitalization of $2.69 billion, a PE ratio of 61.60 and a beta of 1.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.53). The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.82) EPS. Analysts predict that Advance Auto Parts will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s payout ratio is 136.99%.

Insider Transactions at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AAP. Pzena Investment Management LLC increased its position in shares of Advance Auto Parts by 140.3% during the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after buying an additional 1,698,155 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Advance Auto Parts by 76.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after acquiring an additional 547,696 shares during the period. Dorsal Capital Management LP raised its position in shares of Advance Auto Parts by 159.7% in the 2nd quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock worth $79,162,000 after acquiring an additional 768,664 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Advance Auto Parts by 31.7% in the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock valued at $41,937,000 after purchasing an additional 258,656 shares during the period. Finally, Legion Partners Asset Management LLC boosted its position in shares of Advance Auto Parts by 1.7% during the second quarter. Legion Partners Asset Management LLC now owns 786,250 shares of the company’s stock valued at $49,793,000 after purchasing an additional 13,300 shares in the last quarter. 88.75% of the stock is currently owned by 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.