Advance Auto Parts (NYSE:AAP) Trading Down 7.2% – Here’s What Happened

Advance Auto Parts, Inc. (NYSE:AAP) shares fell 7.2% on Monday . The stock traded as low as $52.31 and last traded at $52.1120. 487,823 shares were traded during trading, a decline of 72% from the average session volume of 1,712,411 shares. The stock had previously closed at $56.15.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AAP. Northcoast Research raised Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, January 21st. Morgan Stanley set a $60.00 target price on Advance Auto Parts in a research report on Tuesday, February 17th. Wells Fargo & Company raised their target price on Advance Auto Parts from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Truist Financial decreased their target price on Advance Auto Parts from $57.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, TD Cowen reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, February 17th. One analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $52.88.

Advance Auto Parts Trading Down 6.3%

The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 67.57, a PEG ratio of 0.92 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 1.55. The business has a 50-day moving average of $53.84 and a 200-day moving average of $50.47.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Friday, February 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.45. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the firm earned ($10.16) earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. As a group, research analysts forecast that Advance Auto Parts, Inc. will post 2.77 earnings per share for the current year.

Institutional Trading of Advance Auto Parts

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank raised its holdings in shares of Advance Auto Parts by 1.1% during the third quarter. Amalgamated Bank now owns 17,270 shares of the company’s stock valued at $1,060,000 after purchasing an additional 185 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Advance Auto Parts by 3.1% during the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock valued at $293,000 after purchasing an additional 191 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Advance Auto Parts by 9.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,224 shares of the company’s stock valued at $117,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System raised its holdings in shares of Advance Auto Parts by 1.6% during the third quarter. Arizona State Retirement System now owns 17,733 shares of the company’s stock valued at $1,089,000 after purchasing an additional 272 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Advance Auto Parts by 0.6% during the third quarter. Envestnet Asset Management Inc. now owns 54,237 shares of the company’s stock valued at $3,330,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Advance Auto Parts

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.