Advance Auto Parts (AAP) – Investment Analysts’ Weekly Ratings Updates

Posted by Carolyn Dwyer on Nov 19th, 2024

Several brokerages have updated their recommendations and price targets on shares of Advance Auto Parts (NYSE: AAP) in the last few weeks:

11/15/2024 – Advance Auto Parts had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $55.00 price target on the stock.
11/15/2024 – Advance Auto Parts had its “neutral” rating reaffirmed by analysts at DA Davidson. They now have a $45.00 price target on the stock.
11/15/2024 – Advance Auto Parts had its price target raised by analysts at UBS Group AG from $42.00 to $44.00. They now have a “neutral” rating on the stock.
11/15/2024 – Advance Auto Parts had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $60.00 to $43.00. They now have a “neutral” rating on the stock.
11/15/2024 – Advance Auto Parts had its price target lowered by analysts at Truist Financial Co. from $41.00 to $39.00. They now have a “hold” rating on the stock.
11/11/2024 – Advance Auto Parts had its price target lowered by analysts at Royal Bank of Canada from $52.00 to $46.00. They now have a “sector perform” rating on the stock.
11/7/2024 – Advance Auto Parts had its price target lowered by analysts at Truist Financial Co. from $46.00 to $41.00. They now have a “hold” rating on the stock.
10/22/2024 – Advance Auto Parts had its price target lowered by analysts at Evercore ISI from $71.00 to $67.00. They now have an “in-line” rating on the stock.
10/16/2024 – Advance Auto Parts had its “neutral” rating reaffirmed by analysts at Roth Mkm. They now have a $40.00 price target on the stock.
10/15/2024 – Advance Auto Parts was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating. They now have a $55.00 price target on the stock.
10/15/2024 – Advance Auto Parts was upgraded by analysts at Roth Capital to a “hold” rating.

Advance Auto Parts Stock Performance

Advance Auto Parts stock traded down $1.60 during mid-day trading on Tuesday, hitting $38.50. The company had a trading volume of 2,509,439 shares, compared to its average volume of 2,061,512. 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, Inc. has a 12-month low of $35.59 and a 12-month high of $88.56. The company’s fifty day moving average is $39.05 and its 200-day moving average is $53.60. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 52.73, a P/E/G ratio of 1.19 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP – Get Free Report) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS 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 company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the company posted ($0.82) EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts predict that Advance Auto Parts, Inc. will post 2.26 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. Advance Auto Parts’s dividend payout ratio (DPR) is 136.99%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co raised its stake in Advance Auto Parts by 3.5% in the 2nd quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock valued at $430,000 after purchasing an additional 232 shares during the last quarter. OLD National Bancorp IN raised 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 purchasing an additional 237 shares during the last quarter. Sei Investments Co. raised its stake in 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 last quarter. Qsemble Capital Management LP raised its stake in Advance Auto Parts by 7.6% in 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 during the last quarter. Finally, Everence Capital Management Inc. increased its stake in shares of Advance Auto Parts by 3.7% in the 3rd quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock worth $325,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

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.