Advance Auto Parts, Inc. (NYSE:AAP) Given Average Rating of “Hold” by Brokerages

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned an average recommendation of “Hold” from the eighteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $45.71.

Several brokerages have recently issued reports on AAP. Wells Fargo & Company set a $35.00 price objective on Advance Auto Parts and gave the company an “equal weight” rating in a report on Monday, May 19th. Truist Financial decreased their price objective on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada decreased their price objective on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a report on Monday, March 3rd. Finally, Citigroup reduced their price target on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, February 27th.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares of the company’s stock, valued at approximately $1,163,490.50. The trade was a 75.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Shane M. Okelly purchased 1,500 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the purchase, the chief executive officer now directly owns 183,121 shares of the company’s stock, valued at $6,737,021.59. This represents a 0.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AAP. Hexagon Capital Partners LLC raised its stake in shares of Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $28,000 after acquiring an additional 465 shares in the last quarter. Allworth Financial LP increased its position in Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after acquiring an additional 818 shares during the period. Vision Financial Markets LLC acquired a new position in Advance Auto Parts in the 4th quarter valued at about $42,000. Advisory Services Network LLC acquired a new position in Advance Auto Parts in the 4th quarter valued at about $46,000. Finally, Financial Management Professionals Inc. acquired a new position in Advance Auto Parts during the 1st quarter worth approximately $49,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Down 1.0%

Advance Auto Parts stock opened at $48.70 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The business’s 50-day simple moving average is $34.63 and its two-hundred day simple moving average is $40.39. The company has a market cap of $2.91 billion, a PE ratio of 66.71, a PEG ratio of 1.98 and a beta of 0.93. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $71.62.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.59. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. Equities analysts anticipate that Advance Auto Parts will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. Advance Auto Parts’s payout ratio is currently -17.86%.

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.