Advance Auto Parts’ (AAP) Neutral Rating Reiterated at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a report released on Friday,Benzinga reports. They currently have a $45.00 price objective on the stock.

Several other research analysts also recently commented on AAP. UBS Group lifted their target price on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday. TD Cowen reduced their target price on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Roth Mkm restated a “neutral” rating and set a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. Truist Financial decreased their price objective on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Friday. Finally, Mizuho restated a “neutral” rating and issued a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and a consensus price target of $49.14.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $40.10 on Friday. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 54.93 and a beta of 1.17. The company has a current ratio of 1.34, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $39.02 and its 200-day moving average price is $54.11. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.82) earnings per share. Equities research analysts forecast that Advance Auto Parts will post 2.26 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s dividend payout ratio (DPR) is 136.99%.

Hedge Funds Weigh In On Advance Auto Parts

Several large investors have recently added to or reduced their stakes in AAP. Allspring Global Investments Holdings LLC purchased a new stake in shares of Advance Auto Parts in the first quarter worth approximately $34,000. Mather Group LLC. lifted 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 valued at $41,000 after purchasing an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Advance Auto Parts in the 2nd quarter worth about $41,000. Blue Trust Inc. grew its position in Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares in the last quarter. Finally, AM Squared Ltd purchased a new position in shares of Advance Auto Parts in the 2nd quarter worth approximately $63,000. Institutional investors own 88.75% of the company’s stock.

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.