Advance Auto Parts, Inc. (NYSE:AAP) Receives Consensus Recommendation of “Hold” from Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has earned an average rating of “Hold” from the sixteen ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $48.64.

A number of research firms have issued reports on AAP. Mizuho reiterated a “neutral” rating and issued a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. JPMorgan Chase & Co. lowered their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Wedbush reissued an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. TD Cowen lowered their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 23rd. Finally, Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock opened at $41.35 on Monday. The company has a 50 day moving average of $39.21 and a 200-day moving average of $51.73. The company has a market cap of $2.47 billion, a PE ratio of 56.64 and a beta of 1.17. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 1-year low of $35.59 and a 1-year high of $88.56.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company earned ($0.82) earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Advance Auto Parts will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is presently 136.99%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AAP. Diversified Trust Co raised its stake in Advance Auto Parts by 3.5% during the second quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock worth $430,000 after buying an additional 232 shares during the last quarter. OLD National Bancorp IN raised its position in shares of Advance Auto Parts by 6.8% in the 2nd quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after acquiring an additional 237 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Advance Auto Parts by 0.5% in the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock valued at $3,779,000 after purchasing an additional 277 shares during the period. Qsemble Capital Management LP boosted its position in shares of Advance Auto Parts by 7.6% during the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock valued at $256,000 after purchasing an additional 285 shares in the last quarter. Finally, Everence Capital Management Inc. grew its stake in Advance Auto Parts by 3.7% during the third quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock worth $325,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds 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.