Brokerages Set Advance Auto Parts, Inc. (NYSE:AAP) Target Price at $48.40

Advance Auto Parts, Inc. (NYSE:AAP) has earned a consensus rating of “Hold” from the sixteen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $48.40.

Several analysts recently weighed in on the company. Evercore ISI raised their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lowered their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Roth Mkm restated a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Truist Financial cut their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a report on Friday, November 15th.

Insider Activity at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pzena Investment Management LLC boosted its holdings in Advance Auto Parts by 140.3% in the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after acquiring an additional 1,698,155 shares in the last quarter. Dorsal Capital Management LP lifted its holdings in shares of Advance Auto Parts by 159.7% in the 2nd quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock worth $79,162,000 after purchasing an additional 768,664 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Advance Auto Parts by 76.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after purchasing an additional 547,696 shares during the period. International Assets Investment Management LLC acquired a new stake in Advance Auto Parts in the 3rd quarter valued at $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Advance Auto Parts during the 3rd quarter valued at $14,684,000. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $44.06 on Friday. The firm has a 50 day moving average of $41.21 and a 200-day moving average of $48.48. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.63 billion, a PE ratio of 60.36 and a beta of 1.21.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm earned ($0.82) earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

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.