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

Advance Auto Parts, Inc. (NYSE:AAP) has been given an average recommendation of “Reduce” by the fourteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $56.54.

A number of equities research analysts have recently issued reports on AAP shares. JPMorgan Chase & Co. reduced their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Evercore ISI dropped their price objective on Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a research note on Friday, August 23rd. Mizuho reiterated a “neutral” rating and set a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. TD Cowen dropped their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th.

Institutional Investors Weigh In On Advance Auto Parts

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

Advance Auto Parts Stock Up 0.5 %

Advance Auto Parts stock opened at $41.33 on Wednesday. The business’s 50-day moving average price is $54.63 and its 200 day moving average price is $66.26. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 59.90, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. Advance Auto Parts has a 52 week low of $37.51 and a 52 week high of $88.56.

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 the consensus estimate of $0.97 by ($0.22). The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share. As a group, sell-side analysts anticipate that Advance Auto Parts will post 2.19 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s payout ratio is 144.93%.

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.