Analysts’ Recent Ratings Changes for Advance Auto Parts (AAP)

Advance Auto Parts (NYSE: AAP) has recently received a number of price target changes and ratings updates:

• 8/26/2024 – Advance Auto Parts had its price target lowered by analysts at Mizuho from $64.00 to $45.00. They now have a “neutral” rating on the stock.
• 8/23/2024 – Advance Auto Parts had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $55.00 price target on the stock, down previously from $65.00.
• 8/23/2024 – Advance Auto Parts had its price target lowered by analysts at Evercore ISI from $64.00 to $60.00. They now have an “in-line” rating on the stock.
• 8/23/2024 – Advance Auto Parts had its price target lowered by analysts at Truist Financial Co. from $63.00 to $46.00. They now have a “hold” rating on the stock.
• 8/23/2024 – Advance Auto Parts had its price target lowered by analysts at TD Cowen from $65.00 to $55.00. They now have a “hold” rating on the stock.
• 8/20/2024 – Advance Auto Parts had its “hold” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $60.00 price target on the stock.
• 8/16/2024 – Advance Auto Parts had its price target lowered by analysts at JPMorgan Chase & Co. from $68.00 to $55.00. They now have a “neutral” rating on the stock.
• 8/9/2024 – Advance Auto Parts had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $65.00 price target on the stock.
• 7/16/2024 – Advance Auto Parts had its price target lowered by analysts at Evercore ISI from $70.00 to $68.00. They now have an “in-line” rating on the stock.
• 7/2/2024 – Advance Auto Parts had its price target lowered by analysts at Evercore ISI from $73.00 to $70.00. They now have an “in-line” rating on the stock.

Advance Auto Parts Price Performance

Shares of AAP traded down $0.49 during mid-day trading on Thursday, hitting $46.15. 2,629,813 shares of the company traded hands, compared to its average volume of 1,756,336. The business has a 50-day moving average of $59.94 and a 200 day moving average of $68.25. Advance Auto Parts, Inc. has a one year low of $45.79 and a one year high of $88.56. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 66.88, a PEG ratio of 1.20 and a beta of 1.20. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 0.70.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, equities analysts expect that Advance Auto Parts, Inc. will post 3.7 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 144.93%.

Institutional Trading of Advance Auto Parts

A number of hedge funds have recently modified their holdings of the stock. Creative Planning raised its stake in Advance Auto Parts by 11.4% in the 2nd quarter. Creative Planning now owns 19,338 shares of the company’s stock worth $1,225,000 after purchasing an additional 1,984 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Advance Auto Parts in the second quarter valued at about $380,000. Clearline Capital LP grew its stake in Advance Auto Parts by 115.4% during the second quarter. Clearline Capital LP now owns 405,545 shares of the company’s stock worth $25,683,000 after purchasing an additional 217,276 shares during the period. Annandale Capital LLC grew its stake in Advance Auto Parts by 52.7% during the second quarter. Annandale Capital LLC now owns 69,865 shares of the company’s stock worth $4,425,000 after purchasing an additional 24,100 shares during the period. Finally, Scientech Research LLC boosted its holdings in Advance Auto Parts by 150.0% in the second quarter. Scientech Research LLC now owns 24,920 shares of the company’s stock worth $1,578,000 after acquiring an additional 14,953 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

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.