Analysts Set Advance Auto Parts, Inc. (NYSE:AAP) PT at $56.54

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned an average recommendation of “Reduce” from the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $56.54.

A number of analysts recently weighed in on AAP shares. Evercore ISI decreased their price target on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a research report on Friday, August 23rd. Mizuho reissued a “neutral” rating and issued a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. Wells Fargo & Company reduced their target price 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. JPMorgan Chase & Co. decreased their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Bank of America lifted their price objective on shares of Advance Auto Parts from $51.00 to $55.00 and gave the stock an “underperform” rating in a report on Thursday, May 30th.

Institutional Investors Weigh In On Advance Auto Parts

A number of institutional investors and hedge funds have recently modified their holdings of AAP. Hexagon Capital Partners LLC raised its holdings in Advance Auto Parts by 267.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after buying an additional 257 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Advance Auto Parts in the 1st quarter worth about $34,000. Principal Securities Inc. purchased a new stake in shares of Advance Auto Parts during the 4th quarter worth about $27,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Advance Auto Parts during the 1st quarter valued at about $43,000. Finally, Mather Group LLC. grew its stake in shares of Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after buying an additional 596 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Stock Performance

NYSE AAP opened at $40.99 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. Advance Auto Parts has a 1-year low of $37.51 and a 1-year high of $88.56. The firm has a market capitalization of $2.44 billion, a P/E ratio of 59.41, a P/E/G ratio of 1.26 and a beta of 1.17. The business’s 50-day simple moving average is $53.15 and its 200-day simple moving average is $65.54.

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

Advance Auto Parts Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, October 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

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.