Advance Auto Parts (NYSE:AAP) Upgraded by Roth Capital to “Hold”

Roth Capital upgraded shares of Advance Auto Parts (NYSE:AAP) to a hold rating in a research report report published on Tuesday, Zacks.com reports. Roth Capital also issued estimates for Advance Auto Parts’ Q3 2024 earnings at $0.42 EPS, Q4 2024 earnings at $0.36 EPS, FY2024 earnings at $2.20 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.67 EPS, FY2025 earnings at $2.79 EPS and FY2026 earnings at $3.50 EPS.

AAP has been the topic of several other reports. Evercore ISI reduced their price objective on Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating on the stock in a research report on Friday, August 23rd. Mizuho reaffirmed a “neutral” rating and set a $38.00 price target (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Roth Mkm reissued a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a research report on Wednesday. Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Tuesday. Finally, TD Cowen reduced their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.36.

Advance Auto Parts Trading Up 1.1 %

Shares of Advance Auto Parts stock opened at $39.82 on Tuesday. The company has a 50-day moving average of $44.42 and a two-hundred day moving average of $59.71. Advance Auto Parts has a 12-month low of $36.40 and a 12-month high of $88.56. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The stock has a market cap of $2.37 billion, a PE ratio of 57.71, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) 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 analyst estimates 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, research analysts anticipate that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s dividend payout ratio is presently 144.93%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC grew 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 valued at $30,000 after purchasing an additional 257 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Advance Auto Parts during the first quarter valued at about $34,000. Mather Group LLC. increased its position in shares of Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after acquiring an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Advance Auto Parts during the second quarter worth about $41,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Advance Auto Parts in the first quarter worth about $43,000. 88.75% of the stock is owned by institutional investors and hedge funds.

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.