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

Advance Auto Parts, Inc. (NYSE:AAP) has received an average recommendation of “Reduce” from the nineteen analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $64.56.

Several equities analysts recently commented on AAP shares. Evercore ISI cut their target price on Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Truist Financial raised their target price on Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Mizuho began coverage on Advance Auto Parts in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 price objective for the company. TheStreet upgraded Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. Finally, Barclays lifted their price objective on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th.

Insider Buying and Selling

In related news, Director Carla Jean Bailo acquired 310 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average cost of $81.19 per share, with a total value of $25,168.90. Following the completion of the purchase, the director now directly owns 5,789 shares in the company, valued at $470,008.91. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Advance Auto Parts news, Director Carla Jean Bailo bought 310 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was purchased at an average cost of $81.19 per share, with a total value of $25,168.90. Following the completion of the purchase, the director now owns 5,789 shares in the company, valued at $470,008.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brent Windom bought 4,700 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was acquired at an average cost of $85.34 per share, with a total value of $401,098.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $853,400. The disclosure for this purchase can be found here. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Advance Auto Parts by 2,226.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,026,668 shares of the company’s stock valued at $113,352,000 after purchasing an additional 1,939,560 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Advance Auto Parts by 53.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,958,241 shares of the company’s stock valued at $241,573,000 after purchasing an additional 1,370,550 shares in the last quarter. Pzena Investment Management LLC bought a new stake in shares of Advance Auto Parts in the third quarter valued at about $73,882,000. Federated Hermes Inc. raised its holdings in Advance Auto Parts by 2,716,800.0% during the fourth quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock worth $51,402,000 after acquiring an additional 842,208 shares in the last quarter. Finally, State Street Corp boosted its position in Advance Auto Parts by 28.2% during the first quarter. State Street Corp now owns 3,431,787 shares of the company’s stock valued at $417,340,000 after purchasing an additional 754,027 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $78.69 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $4.69 billion, a PE ratio of 106.34, a PEG ratio of 1.40 and a beta of 1.17. Advance Auto Parts has a 1-year low of $47.73 and a 1-year high of $129.90. The business’s 50 day moving average is $74.57 and its 200-day moving average is $63.64.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.83). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. Advance Auto Parts’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $2.88 EPS. Sell-side analysts predict that Advance Auto Parts will post 3.94 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, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 135.14%.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.