Advance Auto Parts, Inc. (NYSE:AAP) Receives $52.03 Consensus Price Target from Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has received a consensus rating of “Reduce” from the twenty-two ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $52.0345.

A number of analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Advance Auto Parts from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, September 12th. Argus reaffirmed a “hold” rating and set a $60.52 target price on shares of Advance Auto Parts in a report on Friday, August 29th. Wells Fargo & Company lifted their target price on shares of Advance Auto Parts from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, August 15th. DA Davidson set a $65.00 target price on shares of Advance Auto Parts in a report on Thursday, August 14th. Finally, Evercore ISI lifted their target price on shares of Advance Auto Parts from $56.00 to $58.00 and gave the stock an “in-line” rating in a report on Tuesday, August 12th.

Hedge Funds Weigh In On Advance Auto Parts

Several institutional investors and hedge funds have recently made changes to their positions in AAP. REAP Financial Group LLC acquired a new position in shares of Advance Auto Parts in the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC grew its holdings in shares of Advance Auto Parts by 189.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $28,000 after buying an additional 465 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Advance Auto Parts by 290.3% in the 2nd quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock valued at $43,000 after buying an additional 688 shares during the period. Parallel Advisors LLC grew its holdings in shares of Advance Auto Parts by 355.8% in the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock valued at $44,000 after buying an additional 733 shares during the period. Finally, Financial Management Professionals Inc. acquired a new position in shares of Advance Auto Parts in the 1st quarter valued at $49,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Advance Auto Parts Stock Performance

AAP stock opened at $62.16 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. The company has a 50 day moving average price of $59.30 and a 200 day moving average price of $48.82. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. The stock has a market capitalization of $3.73 billion, a PE ratio of -9.76 and a beta of 1.08.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the company posted $0.75 EPS. Advance Auto Parts’s revenue was down 7.7% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Analysts forecast that Advance Auto Parts will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Advance Auto Parts’s payout ratio is -15.70%.

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.