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

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned an average rating of “Hold” from the twenty-two analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $46.25.

Several equities research analysts have weighed in on the stock. Redburn Partners upgraded shares of Advance Auto Parts from a “sell” rating to a “neutral” rating and set a $45.00 target price on the stock in a report on Tuesday, June 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $48.00 price target (up previously from $43.00) on shares of Advance Auto Parts in a report on Thursday, May 22nd. Citigroup lowered their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Cowen reiterated a “hold” rating on shares of Advance Auto Parts in a report on Friday, May 23rd. Finally, Morgan Stanley boosted their target price on Advance Auto Parts from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday, May 23rd.

Advance Auto Parts Stock Up 0.7%

Shares of Advance Auto Parts stock opened at $48.55 on Friday. The business has a fifty day simple moving average of $40.00 and a 200 day simple moving average of $41.63. The stock has a market cap of $2.91 billion, a PE ratio of -8.27 and a beta of 1.06. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. Advance Auto Parts has a 12 month low of $28.89 and a 12 month high of $67.03.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.59. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. The company’s revenue was down 24.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 earnings per share. Research analysts predict that Advance Auto Parts will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, July 11th. Advance Auto Parts’s dividend payout ratio (DPR) is currently -17.04%.

Institutional Trading of Advance Auto Parts

Hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc boosted its holdings in Advance Auto Parts by 3.9% during the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock worth $277,000 after purchasing an additional 221 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Advance Auto Parts by 10.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company’s stock worth $129,000 after buying an additional 300 shares during the last quarter. Sovran Advisors LLC boosted its stake in shares of Advance Auto Parts by 4.3% during the 1st quarter. Sovran Advisors LLC now owns 7,822 shares of the company’s stock worth $307,000 after buying an additional 322 shares during the last quarter. Studio Investment Management LLC grew its holdings in shares of Advance Auto Parts by 6.7% in the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company’s stock valued at $263,000 after acquiring an additional 350 shares in the last quarter. Finally, Investors Research Corp increased its position in shares of Advance Auto Parts by 7.1% in the first quarter. Investors Research Corp now owns 5,625 shares of the company’s stock valued at $221,000 after acquiring an additional 375 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.