Evercore ISI Issues Positive Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP) had its price objective lifted by Evercore ISI from $45.00 to $60.00 in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a hold rating on the stock.

A number of other equities analysts have also commented on AAP. DA Davidson reissued a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. UBS Group boosted their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Wells Fargo & Company cut their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Finally, Truist Financial dropped their price target on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday, November 15th. One 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.64.

Advance Auto Parts Trading Up 0.3 %

NYSE:AAP opened at $38.63 on Wednesday. The stock’s 50-day moving average is $39.05 and its two-hundred day moving average is $53.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The stock has a market cap of $2.31 billion, a PE ratio of 52.92, a price-to-earnings-growth ratio of 1.19 and a beta of 1.17. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56.

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

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors 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 yield of 2.59%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s payout ratio is presently 136.99%.

Institutional Trading of Advance Auto Parts

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in Advance Auto Parts during the 1st quarter worth about $34,000. UniSuper Management Pty Ltd acquired a new stake in shares of Advance Auto Parts in the first quarter valued at about $1,083,000. CANADA LIFE ASSURANCE Co raised its holdings in Advance Auto Parts by 4.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 59,203 shares of the company’s stock worth $5,040,000 after acquiring an additional 2,537 shares in the last quarter. Natixis bought a new stake in Advance Auto Parts during the first quarter worth about $5,397,000. Finally, Shell Asset Management Co. acquired a new position in Advance Auto Parts during the first quarter valued at approximately $310,000. 88.75% of the stock is currently owned by institutional investors.

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.