Advance Auto Parts (NYSE:AAP) Receives “Neutral” Rating from DA Davidson

DA Davidson reiterated their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $45.00 target price on the stock.

Several other equities research analysts have also commented on AAP. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Friday. Roth Mkm reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Evercore ISI cut their price objective on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd. The Goldman Sachs Group decreased their target price on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, TD Cowen dropped their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.14.

Advance Auto Parts Stock Performance

AAP traded down $3.51 on Friday, reaching $37.69. The stock had a trading volume of 5,899,565 shares, compared to its average volume of 2,053,840. The business’s 50-day moving average price is $39.02 and its two-hundred day moving average price is $54.37. The company has a market cap of $2.25 billion, a P/E ratio of 51.62, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.22). The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. Advance Auto Parts’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. Sell-side analysts forecast that Advance Auto Parts will post 2.19 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.65%. Advance Auto Parts’s payout ratio is 136.99%.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in Advance Auto Parts during the 1st quarter valued at about $34,000. Mather Group LLC. grew its holdings in shares of Advance Auto Parts by 1,241.7% in 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 purchased a new stake in Advance Auto Parts during the 2nd quarter worth approximately $41,000. Blue Trust Inc. lifted its holdings in Advance Auto Parts by 56.7% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after buying an additional 436 shares in the last quarter. Finally, AM Squared Ltd acquired a new position in shares of Advance Auto Parts in the second quarter worth $63,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.