Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report) has received a consensus rating of “Reduce” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and thirteen have issued a hold rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $56.54.
A number of equities research analysts have recently weighed in on AAP shares. Evercore ISI lowered their price objective on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, August 23rd. Truist Financial cut their price target on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. JPMorgan Chase & Co. reduced their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Mizuho reissued a “neutral” rating and issued a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Finally, Wedbush restated a “neutral” rating and set a $55.00 price target (down from $65.00) on shares of Advance Auto Parts in a research report on Friday, August 23rd.
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Hedge Funds Weigh In On Advance Auto Parts
Advance Auto Parts Stock Performance
NYSE AAP opened at $37.53 on Friday. Advance Auto Parts has a 52-week low of $36.40 and a 52-week high of $88.56. The company has a fifty day moving average of $46.43 and a 200-day moving average of $61.13. The company has a market capitalization of $2.24 billion, a P/E ratio of 54.39, a P/E/G ratio of 1.25 and a beta of 1.16. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23.
Advance Auto Parts (NYSE:AAP – Get Free Report) last issued its quarterly earnings results 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 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 company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the firm earned $1.43 EPS. As a group, equities research analysts predict that Advance Auto Parts will post 2.19 EPS for the current fiscal year.
Advance Auto Parts Announces Dividend
The firm also recently declared 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 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s payout ratio is 144.93%.
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.
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