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

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned an average recommendation of “Hold” from the twenty-four brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $50.0805.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Advance Auto Parts from $44.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Citigroup raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Wednesday, January 21st. Truist Financial set a $48.00 price target on shares of Advance Auto Parts in a report on Wednesday, December 17th. Morgan Stanley dropped their price objective on shares of Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Finally, UBS Group set a $40.00 target price on shares of Advance Auto Parts in a research report on Thursday, October 30th.

Advance Auto Parts Stock Performance

Shares of AAP opened at $48.01 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.73 and a quick ratio of 0.88. Advance Auto Parts has a one year low of $28.89 and a one year high of $70.00. The company’s fifty day moving average price is $45.26 and its 200 day moving average price is $52.83. The company has a market capitalization of $2.88 billion, a PE ratio of -7.63 and a beta of 1.14.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. Advance Auto Parts had a positive return on equity of 0.64% and a negative net margin of 4.37%.The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted ($0.04) earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, analysts expect that Advance Auto Parts will post -0.46 earnings per share for the current year.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total value of $390,762.00. Following the sale, the executive vice president directly owned 23,165 shares in the company, valued at $1,181,415. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Advance Auto Parts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAP. REAP Financial Group LLC acquired a new stake in Advance Auto Parts during the 2nd quarter worth $26,000. Salomon & Ludwin LLC bought a new position in shares of Advance Auto Parts in the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Advance Auto Parts during the third quarter worth $31,000. AlphaCore Capital LLC increased its holdings in Advance Auto Parts by 6,288.9% in the third quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock valued at $35,000 after purchasing an additional 566 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Advance Auto Parts by 290.3% in the second quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock valued at $43,000 after buying an additional 688 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

About Advance Auto Parts

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.