Advance Auto Parts, Inc. (NYSE:AAP) Receives $56.54 Average Target Price from Analysts

by · The Markets Daily

Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report) has received a consensus rating of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $55.36.

A number of research firms have recently weighed in on AAP. Wells Fargo & Company cut their price target on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Roth Capital raised Advance Auto Parts to a “hold” rating in a report on Tuesday. Truist Financial lowered their price objective on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Mizuho reissued a “neutral” rating and set a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. lowered their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th.

Read Our Latest Stock Analysis on AAP

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently modified their holdings of AAP. Quarry LP lifted its position in shares of Advance Auto Parts by 285.7% during the 4th quarter. Quarry LP now owns 702 shares of the company’s stock worth $43,000 after buying an additional 520 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Advance Auto Parts in the 4th quarter valued at $6,158,000. CWM LLC raised its position in Advance Auto Parts by 25.7% in the 1st quarter. CWM LLC now owns 1,739 shares of the company’s stock valued at $148,000 after purchasing an additional 356 shares during the last quarter. First Hawaiian Bank raised its position in Advance Auto Parts by 44.0% in the 1st quarter. First Hawaiian Bank now owns 9,673 shares of the company’s stock valued at $823,000 after purchasing an additional 2,957 shares during the last quarter. Finally, Radnor Capital Management LLC bought a new position in Advance Auto Parts in the 1st quarter valued at $241,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Up 1.9 %

Shares of NYSE AAP opened at $39.36 on Friday. The business has a fifty day simple moving average of $45.26 and a 200-day simple moving average of $60.17. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 57.04, a P/E/G ratio of 1.25 and a beta of 1.16. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 12 month low of $36.40 and a 12 month high of $88.56.

Advance Auto Parts (NYSE:AAP – Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. Sell-side analysts predict that Advance Auto Parts will post 2.19 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.25 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.54%. Advance Auto Parts’s dividend payout ratio is currently 144.93%.

Advance Auto Parts Company Profile

(Get Free Report

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.

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