Advance Auto Parts’ (AAP) “Neutral” Rating Reiterated at Mizuho

Mizuho reaffirmed their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a research note published on Thursday, Marketbeat reports. The firm currently has a $38.00 price target on the stock, down from their prior price target of $45.00.

Several other analysts have also recently issued reports on AAP. Truist Financial reduced their price objective on Advance Auto Parts from $63.00 to $46.00 and set a hold rating on the stock in a research note on Friday, August 23rd. StockNews.com upgraded Advance Auto Parts from a sell rating to a hold rating in a research note on Thursday, May 30th. UBS Group increased their price objective on Advance Auto Parts from $68.00 to $72.00 and gave the company a neutral rating in a research note on Tuesday, May 28th. Bank of America increased their price objective on Advance Auto Parts from $51.00 to $55.00 and gave the company an underperform rating in a research note on Thursday, May 30th. Finally, Evercore ISI reduced their price objective on Advance Auto Parts from $64.00 to $60.00 and set an in-line rating on the stock in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $56.54.

Advance Auto Parts Trading Up 4.9 %

Shares of Advance Auto Parts stock opened at $41.43 on Thursday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 60.04, a PEG ratio of 1.26 and a beta of 1.17. Advance Auto Parts has a fifty-two week low of $37.51 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The stock has a 50 day moving average of $55.00 and a 200 day moving average of $66.44.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data 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 previous year, the company posted $1.43 earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, research analysts predict that Advance Auto Parts will post 2.19 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 144.93%.

Institutional Trading of Advance Auto Parts

A number of hedge funds and other institutional investors have recently made changes to their positions in AAP. Truist Financial Corp grew its holdings in shares of Advance Auto Parts by 18.3% during the fourth quarter. Truist Financial Corp now owns 12,380 shares of the company’s stock worth $756,000 after buying an additional 1,914 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Advance Auto Parts by 19.3% during the fourth quarter. Victory Capital Management Inc. now owns 12,519 shares of the company’s stock worth $764,000 after buying an additional 2,027 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Advance Auto Parts by 60.7% during the fourth quarter. Natixis Advisors L.P. now owns 21,681 shares of the company’s stock worth $1,323,000 after buying an additional 8,189 shares during the last quarter. M&T Bank Corp purchased a new position in shares of Advance Auto Parts during the fourth quarter worth about $228,000. Finally, Principal Securities Inc. purchased a new position in shares of Advance Auto Parts during the fourth quarter worth about $27,000. Institutional investors and hedge funds 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.