Advance Auto Parts (NYSE:AAP) Stock Price Up 4%

Advance Auto Parts, Inc. (NYSE:AAP) was up 4% on Thursday . The company traded as high as $38.66 and last traded at $38.65. Approximately 2,218,537 shares changed hands during trading, an increase of 17% from the average daily volume of 1,897,399 shares. The stock had previously closed at $37.17.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho restated a “neutral” rating and issued a $38.00 price target (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. TD Cowen reduced their target price on shares of 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. Wells Fargo & Company lowered their price target 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. Truist Financial cut their price objective on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a report on Friday, August 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $55.00 target price (down from $65.00) on shares of Advance Auto Parts in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and a consensus price target of $56.54.

Advance Auto Parts Price Performance

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 company has a market cap of $2.32 billion, a price-to-earnings ratio of 53.86, a PEG ratio of 1.32 and a beta of 1.17. The business has a fifty day moving average price of $49.68 and a 200 day moving average price of $63.40.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the firm posted $1.43 EPS. The firm’s revenue was down .1% compared to the same quarter last year. As a group, research analysts anticipate that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s payout ratio is 144.93%.

Institutional Trading of Advance Auto Parts

A number of hedge funds and other institutional investors have recently modified their holdings of AAP. Kovack Advisors Inc. boosted its holdings in shares of Advance Auto Parts by 0.7% during the 1st quarter. Kovack Advisors Inc. now owns 22,727 shares of the company’s stock valued at $1,934,000 after acquiring an additional 150 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Advance Auto Parts by 28.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 895 shares of the company’s stock worth $76,000 after purchasing an additional 196 shares during the last quarter. Diversified Trust Co increased its stake in shares of Advance Auto Parts by 3.5% in the second quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock valued at $430,000 after buying an additional 232 shares during the period. OLD National Bancorp IN raised its holdings in Advance Auto Parts by 6.8% in the 2nd quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock valued at $234,000 after buying an additional 237 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in 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 buying an additional 257 shares during the period. Institutional investors own 88.75% of the company’s stock.

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.