Advance Auto Parts (NYSE:AAP) Given Neutral Rating at DA Davidson

DA Davidson reissued their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a report published on Tuesday morning,Benzinga reports. The firm currently has a $47.00 price target on the stock.

AAP has been the subject of a number of other research reports. Royal Bank Of Canada raised their target price on shares of Advance Auto Parts from $57.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, January 21st. Northcoast Research raised Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, January 21st. Morgan Stanley set a $60.00 price target on Advance Auto Parts in a research report on Tuesday. Finally, Truist Financial raised their price target on Advance Auto Parts from $48.00 to $57.00 and gave the company a “hold” rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $52.93.

Advance Auto Parts Price Performance

AAP stock opened at $56.66 on Tuesday. The stock has a 50-day moving average price of $46.22 and a two-hundred day moving average price of $52.38. Advance Auto Parts has a 1 year low of $28.89 and a 1 year high of $70.00. The stock has a market cap of $3.40 billion, a PE ratio of 77.62 and a beta of 1.14. The company has a current ratio of 1.75, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Friday, February 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.45. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.95 billion. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($10.16) earnings per share. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. Equities analysts forecast that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, April 10th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 136.99%.

Hedge Funds Weigh In On Advance Auto Parts

A number of large investors have recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in Advance Auto Parts in the 3rd quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Advance Auto Parts in the third quarter valued at about $31,000. AlphaCore Capital LLC boosted its position in shares of 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 acquiring an additional 566 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Advance Auto Parts by 198.0% in the third quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock valued at $46,000 after acquiring an additional 499 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Advance Auto Parts during the third quarter worth about $52,000. Institutional investors own 88.70% of the company’s stock.

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.