Truist Financial Issues Positive Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP) had its price target boosted by Truist Financial from $48.00 to $57.00 in a report published on Tuesday, MarketBeat reports. They currently have a hold rating on the stock.

AAP has been the subject of a number of other research reports. DA Davidson reaffirmed a “neutral” rating and set a $47.00 target price on shares of Advance Auto Parts in a research note on Thursday, February 5th. TD Cowen cut their price target on Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, January 21st. Morgan Stanley cut their target price on Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Finally, Northcoast Research upgraded Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.93.

Advance Auto Parts Price Performance

AAP opened at $56.66 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 77.62 and a beta of 1.14. The stock has a fifty day simple moving average of $46.22 and a two-hundred day simple moving average of $52.38. Advance Auto Parts has a 12-month low of $28.89 and a 12-month 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 analysts’ consensus estimates of $0.41 by $0.45. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.95 billion. Advance Auto Parts had a net margin of 0.51% and a return on equity of 6.23%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($10.16) EPS. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. Research analysts predict that Advance Auto Parts will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

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

Institutional Investors Weigh In On Advance Auto Parts

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC purchased a new stake in Advance Auto Parts during 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 worth $31,000. AlphaCore Capital LLC grew its holdings 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 worth $35,000 after acquiring an additional 566 shares during the period. Hantz Financial Services Inc. increased its position in Advance Auto Parts by 184.5% during the fourth quarter. Hantz Financial Services Inc. now owns 919 shares of the company’s stock valued at $36,000 after acquiring an additional 596 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings 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 acquiring an additional 688 shares during the period. 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.