Research Analysts’ Recent Ratings Updates for Advance Auto Parts (AAP)

Advance Auto Parts (NYSE: AAP) recently received a number of ratings updates from brokerages and research firms:

  • 10/22/2024 – Advance Auto Parts had its price target lowered by analysts at Evercore ISI from $71.00 to $67.00. They now have an “in-line” rating on the stock.
  • 10/16/2024 – Advance Auto Parts had its “neutral” rating reaffirmed by analysts at Roth Mkm. They now have a $40.00 price target on the stock.
  • 10/15/2024 – Advance Auto Parts was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating. They now have a $55.00 price target on the stock.
  • 10/15/2024 – Advance Auto Parts was upgraded by analysts at Roth Capital to a “hold” rating.
  • 9/13/2024 – Advance Auto Parts had its price target lowered by analysts at Wells Fargo & Company from $50.00 to $40.00. They now have an “equal weight” rating on the stock.
  • 9/12/2024 – Advance Auto Parts had its “neutral” rating reaffirmed by analysts at Mizuho. They now have a $38.00 price target on the stock, down previously from $45.00.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $35.85 on Wednesday. The stock has a 50-day moving average price of $41.71 and a two-hundred day moving average price of $57.70. Advance Auto Parts, Inc. has a 12 month low of $35.83 and a 12 month high of $88.56. The company has a market capitalization of $2.14 billion, a PE ratio of 51.96, a P/E/G ratio of 1.25 and a beta of 1.16. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAPGet Free Report) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the business posted $1.43 EPS. Advance Auto Parts’s revenue was down .1% on a year-over-year basis. Analysts expect that Advance Auto Parts, Inc. will post 2.19 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, October 11th. This represents a $1.00 annualized dividend and a yield of 2.79%. Advance Auto Parts’s dividend payout ratio is currently 144.93%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Third Point LLC purchased a new position in shares of Advance Auto Parts during the first quarter valued at approximately $127,234,000. Dorsal Capital Management LP lifted its stake in Advance Auto Parts by 159.7% during 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 in the last quarter. Capital World Investors boosted its holdings in Advance Auto Parts by 67.0% during the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after acquiring an additional 615,674 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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. Finally, International Assets Investment Management LLC purchased a new stake in shares of Advance Auto Parts in the third quarter valued at about $17,477,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

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.

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