Brokerages Set Advance Auto Parts, Inc. (NYSE:AAP) Target Price at $63.80

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned an average recommendation of “Reduce” from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and fourteen have issued a hold recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $64.79.

AAP has been the subject of a number of recent research reports. Truist Financial decreased their price objective on Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada decreased their price target on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating for the company in a report on Thursday, May 30th. StockNews.com upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Evercore ISI cut their price objective on shares of Advance Auto Parts from $73.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Finally, Mizuho lowered their target price on shares of Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, June 10th.

Advance Auto Parts Trading Up 5.1 %

AAP opened at $61.73 on Friday. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. Advance Auto Parts has a 52 week low of $47.73 and a 52 week high of $88.56. The business’s 50 day moving average is $66.84 and its two-hundred day moving average is $69.24. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 89.47, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. On average, research analysts predict that Advance Auto Parts will post 3.72 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, July 12th. This represents a $1.00 annualized dividend and a yield of 1.62%. Advance Auto Parts’s dividend payout ratio is presently 144.93%.

Institutional Trading of Advance Auto Parts

Several large investors have recently bought and sold shares of the company. Kovack Advisors Inc. increased its holdings in 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 position in shares of Advance Auto Parts by 28.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 895 shares of the company’s stock valued at $76,000 after purchasing an additional 196 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Advance Auto Parts by 8.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,711 shares of the company’s stock worth $165,000 after purchasing an additional 206 shares in the last quarter. Diversified Trust Co lifted its stake in Advance Auto Parts by 2.9% in the 4th quarter. Diversified Trust Co now owns 7,462 shares of the company’s stock valued at $455,000 after buying an additional 213 shares in the last quarter. Finally, OLD National Bancorp IN lifted its stake 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 in the last quarter. Institutional investors and hedge funds 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.