Advance Auto Parts (NYSE:AAP) Hits New 12-Month Low at $37.51

Advance Auto Parts, Inc. (NYSE:AAP) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $37.51 and last traded at $37.66, with a volume of 208840 shares trading hands. The stock had previously closed at $37.78.

Wall Street Analyst Weigh In

AAP has been the subject of several research reports. Mizuho reaffirmed a “neutral” rating and issued 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 objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. Truist Financial decreased their target price on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Evercore ISI lowered their target price on shares of 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. Finally, Wedbush restated a “neutral” rating and set a $55.00 price target (down previously from $65.00) on shares of Advance Auto Parts in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.54.

Advance Auto Parts Price Performance

The stock has a market capitalization of $2.25 billion, a P/E ratio of 54.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.17. 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 simple moving average of $50.56 and a 200 day simple moving average of $63.90.

Advance Auto Parts (NYSE:AAP) last announced 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). The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. On average, equities analysts forecast that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 144.93%.

Institutional Trading of Advance Auto Parts

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in shares of 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 purchasing an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Advance Auto Parts during the first quarter worth $34,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Advance Auto Parts in the first quarter valued at approximately $43,000. Mather Group LLC. boosted its stake in shares of Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after buying an additional 596 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Advance Auto Parts during the second quarter worth approximately $41,000. 88.75% of the stock is owned by institutional investors.

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.