Advance Auto Parts (NYSE:AAP) Price Target Lowered to $46.00 at TD Cowen

Advance Auto Parts (NYSE:AAP) had its price target lowered by TD Cowen from $62.00 to $46.00 in a report released on Tuesday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the company. Evercore ISI decreased their price objective on Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. Morgan Stanley reduced their target price on shares of Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. BMO Capital Markets reiterated a “market perform” rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Friday, October 31st. Finally, UBS Group set a $40.00 target price on Advance Auto Parts in a research report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $49.83.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $41.35 on Tuesday. 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 business has a 50-day simple moving average of $45.65 and a two-hundred day simple moving average of $53.38. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -6.57 and a beta of 1.14.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.18. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. On average, analysts expect that Advance Auto Parts will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, January 9th. Advance Auto Parts’s payout ratio is -15.90%.

Insider Buying and Selling at Advance Auto Parts

In related news, EVP Kristen L. Soler sold 7,662 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $51.00, for a total value of $390,762.00. Following the completion of the transaction, the executive vice president directly owned 23,165 shares in the company, valued at $1,181,415. The trade was a 24.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in shares of Advance Auto Parts during the third quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Advance Auto Parts during the 3rd quarter worth $31,000. REAP Financial Group LLC acquired a new stake in Advance Auto Parts in the 2nd quarter valued at approximately $26,000. AlphaCore Capital LLC boosted its holdings in Advance Auto Parts by 6,288.9% during the 3rd quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock valued at $35,000 after acquiring an additional 566 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Advance Auto Parts by 198.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock valued at $46,000 after buying an additional 499 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.