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

Advance Auto Parts, Inc. (NYSE:AAP) has earned an average recommendation of “Reduce” from the twenty-four analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, twenty have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $51.7845.

Several equities research analysts recently issued reports on AAP shares. Wall Street Zen raised Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Cfra Research raised shares of Advance Auto Parts to a “hold” rating in a research report on Thursday, October 30th. Truist Financial raised their price target on shares of Advance Auto Parts from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. Citigroup dropped their price objective on shares of Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, Morgan Stanley cut their target price on shares of Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $51.00, for a total value of $390,762.00. Following the transaction, the executive vice president owned 23,165 shares in the company, valued at $1,181,415. The trade was a 24.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC lifted its stake in shares of Advance Auto Parts by 1.9% in the second quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock worth $204,322,000 after buying an additional 82,456 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Advance Auto Parts by 3.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,552,475 shares of the company’s stock worth $139,293,000 after acquiring an additional 102,921 shares during the period. Dimensional Fund Advisors LP raised its holdings in Advance Auto Parts by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company’s stock worth $107,500,000 after acquiring an additional 13,412 shares during the period. Federated Hermes Inc. lifted its position in Advance Auto Parts by 12.8% during the 3rd quarter. Federated Hermes Inc. now owns 2,694,027 shares of the company’s stock worth $165,413,000 after acquiring an additional 306,702 shares during the last quarter. Finally, State Street Corp boosted its holdings in Advance Auto Parts by 13.5% during the second quarter. State Street Corp now owns 2,406,039 shares of the company’s stock valued at $111,857,000 after acquiring an additional 286,148 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Trading Down 1.6%

Advance Auto Parts stock opened at $48.27 on Friday. The company has a 50 day moving average price of $51.88 and a 200 day moving average price of $54.89. Advance Auto Parts has a 52 week low of $28.89 and a 52 week high of $70.00. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.73. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -7.67 and a beta of 1.13.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.18. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Advance Auto Parts had a negative net margin of 4.37% and a positive return on equity of 0.64%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) EPS. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Research analysts forecast that Advance Auto Parts will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, January 9th. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.90%.

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.