Advance Auto Parts, Inc. (NYSE:AAP) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have been assigned an average recommendation of “Hold” from the sixteen analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $47.93.

A number of analysts have recently issued reports on the stock. UBS Group increased 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 note on Friday, November 15th. Truist Financial lowered their price objective on 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. Roth Mkm reissued a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Royal Bank of Canada dropped their price target 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. Finally, Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th.

Advance Auto Parts Trading Up 2.2 %

NYSE:AAP opened at $48.43 on Tuesday. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The business has a fifty day moving average price of $44.45 and a 200-day moving average price of $46.22. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 66.34, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. 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 (NYSE:AAP) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned ($0.82) EPS. Sell-side analysts forecast that Advance Auto Parts will post -0.5 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. Advance Auto Parts’s payout ratio is 136.99%.

Insider Activity

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction 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 sale, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at $1,069,159.96. The trade was a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

Hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC raised its holdings in shares of Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after purchasing an additional 1,698,155 shares in the last quarter. Dorsal Capital Management LP increased its holdings 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 valued at $79,162,000 after acquiring an additional 768,664 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Advance Auto Parts by 76.2% in 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 in the last quarter. International Assets Investment Management LLC bought a new stake in Advance Auto Parts during the third quarter valued at about $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Advance Auto Parts in the third quarter valued at about $14,684,000. 88.75% of the stock is owned by hedge funds and other 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.