Advance Auto Parts (NYSE:AAP) Reaches New 12-Month Low – Time to Sell?

Advance Auto Parts, Inc. (NYSE:AAP) reached a new 52-week low on Wednesday . The stock traded as low as $37.51 and last traded at $37.66, with a volume of 208840 shares trading hands. The stock had previously closed at $37.78.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Mizuho restated a “neutral” rating and set a $38.00 price target (down from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. JPMorgan Chase & Co. dropped their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Wedbush restated a “neutral” rating and set a $55.00 price target (down from $65.00) on shares of Advance Auto Parts in a research report on Friday, August 23rd. Finally, Evercore ISI dropped their target price on Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating on the stock in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.54.

Advance Auto Parts Stock Up 4.6 %

The company has a 50 day moving average price of $49.68 and a two-hundred day moving average price of $63.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. The stock has a market cap of $2.32 billion, a PE ratio of 56.36, a PEG ratio of 1.32 and a beta of 1.17.

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

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s dividend payout ratio is currently 144.93%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. US Bancorp DE increased its position in Advance Auto Parts by 437.6% during the fourth quarter. US Bancorp DE now owns 11,570 shares of the company’s stock valued at $706,000 after acquiring an additional 9,418 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Advance Auto Parts during the fourth quarter valued at $198,000. Treasurer of the State of North Carolina increased its position in Advance Auto Parts by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 26,336 shares of the company’s stock valued at $1,607,000 after acquiring an additional 260 shares during the last quarter. Capital World Investors increased its position in Advance Auto Parts by 14.3% during the fourth quarter. Capital World Investors now owns 918,259 shares of the company’s stock valued at $56,041,000 after acquiring an additional 114,989 shares during the last quarter. Finally, Stephens Inc. AR increased its position in Advance Auto Parts by 61.6% during the fourth quarter. Stephens Inc. AR now owns 12,849 shares of the company’s stock valued at $784,000 after acquiring an additional 4,898 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Company Profile

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.