Advance Auto Parts, Inc. (NYSE:AAP) Receives Average Recommendation of “Hold” from Analysts

Advance Auto Parts, Inc. (NYSE:AAP) has been assigned an average rating of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $48.40.

A number of research analysts recently issued reports on AAP shares. Truist Financial lowered their target price on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Roth Mkm reiterated a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. UBS Group lifted their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, 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.

Insiders Place Their Bets

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Advance Auto Parts by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 442,830 shares of the company’s stock worth $28,044,000 after acquiring an additional 9,425 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of Advance Auto Parts in the second quarter valued at about $336,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Advance Auto Parts by 13.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,115 shares of the company’s stock worth $831,000 after buying an additional 1,588 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Advance Auto Parts by 57.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 6,821 shares of the company’s stock worth $432,000 after acquiring an additional 2,480 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Advance Auto Parts by 60.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 118,071 shares of the company’s stock valued at $7,477,000 after acquiring an additional 44,408 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $44.24 on Friday. The stock has a market capitalization of $2.64 billion, a P/E ratio of 60.60 and a beta of 1.21. The business has a 50-day moving average of $41.03 and a two-hundred day moving average of $48.75. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm posted ($0.82) earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Advance Auto Parts will post -0.54 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Advance Auto Parts’s payout ratio is currently 136.99%.

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.