Advance Auto Parts (NYSE:AAP) Stock Price Down 5.2% – Here’s Why

Shares of Advance Auto Parts, Inc. (NYSE:AAP) dropped 5.2% during trading on Tuesday . The stock traded as low as $48.20 and last traded at $48.4480. Approximately 314,262 shares traded hands during trading, a decline of 86% from the average daily volume of 2,325,475 shares. The stock had previously closed at $51.08.

Analysts Set New Price Targets

AAP has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. DA Davidson decreased their target price on Advance Auto Parts from $63.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Roth Capital reiterated a “neutral” rating and issued a $55.00 price target (up from $50.00) on shares of Advance Auto Parts in a report on Monday, October 27th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research report on Friday, October 31st. Finally, Evercore ISI decreased their price objective on shares of Advance Auto Parts from $60.00 to $58.00 and set an “in-line” rating for the company in a report on Tuesday. One analyst has rated the stock with a Buy rating, twenty have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $51.78.

Advance Auto Parts Trading Down 7.8%

The firm has a market cap of $2.83 billion, a P/E ratio of -7.51 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.73. The firm has a fifty day moving average of $52.72 and a 200-day moving average of $55.00.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.18. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Advance Auto Parts had a positive return on equity of 0.64% and a negative net margin of 4.37%.The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be given a $0.25 dividend. The ex-dividend date is Friday, January 9th. This represents a $1.00 annualized dividend and a yield of 2.1%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.90%.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $51.00, for a total value of $390,762.00. Following the completion of the transaction, the executive vice president owned 23,165 shares in the company, valued at approximately $1,181,415. This represents a 24.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently made changes to their positions in AAP. Amalgamated Bank increased its position in shares of Advance Auto Parts by 1.1% in the third quarter. Amalgamated Bank now owns 17,270 shares of the company’s stock worth $1,060,000 after purchasing an additional 185 shares during the period. Hsbc Holdings PLC boosted its holdings in Advance Auto Parts by 3.1% in the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock valued at $293,000 after acquiring an additional 191 shares during the last quarter. Arizona State Retirement System raised its position in shares of Advance Auto Parts by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 17,733 shares of the company’s stock worth $1,089,000 after acquiring an additional 272 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Advance Auto Parts by 2.0% in the second quarter. Rockefeller Capital Management L.P. now owns 14,535 shares of the company’s stock worth $676,000 after purchasing an additional 283 shares during the period. Finally, Envestnet Asset Management Inc. increased 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 acquiring an additional 297 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.