Advance Auto Parts (NYSE:AAP) Given New $63.00 Price Target at Royal Bank Of Canada

Advance Auto Parts (NYSE:AAP) had its target price increased by Royal Bank Of Canada from $57.00 to $63.00 in a research note released on Tuesday, MarketBeat.com reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Northcoast Research raised shares of Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 21st. DA Davidson reiterated a “neutral” rating and issued a $47.00 price target on shares of Advance Auto Parts in a report on Thursday, February 5th. Citigroup raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Wednesday, January 21st. Morgan Stanley reduced their price objective on 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. Finally, TD Cowen lowered their target price on Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Three research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and an average target price of $52.93.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock opened at $56.66 on Tuesday. The stock’s fifty day moving average is $46.22 and its two-hundred day moving average is $52.38. The company has a market capitalization of $3.40 billion, a PE ratio of 77.62 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 1.55. Advance Auto Parts has a 52 week low of $28.89 and a 52 week high of $70.00.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Friday, February 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.45. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.95 billion. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the company earned ($10.16) earnings per share. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. As a group, analysts expect that Advance Auto Parts will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

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

Institutional Trading of Advance Auto Parts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank raised its position in Advance Auto Parts by 1.1% in the 3rd quarter. Amalgamated Bank now owns 17,270 shares of the company’s stock valued at $1,060,000 after purchasing an additional 185 shares during the last quarter. Hsbc Holdings PLC increased its stake in Advance Auto Parts by 3.1% in the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock valued at $293,000 after purchasing an additional 191 shares during the period. Arizona State Retirement System raised its holdings in shares of Advance Auto Parts by 1.6% in the third quarter. Arizona State Retirement System now owns 17,733 shares of the company’s stock valued at $1,089,000 after buying an additional 272 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Advance Auto Parts by 2.0% during the second quarter. Rockefeller Capital Management L.P. now owns 14,535 shares of the company’s stock worth $676,000 after buying an additional 283 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Advance Auto Parts by 0.6% during the third quarter. Envestnet Asset Management Inc. now owns 54,237 shares of the company’s stock worth $3,330,000 after buying an additional 297 shares during the last quarter. Hedge funds and other 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.