Brokerages Set Advance Auto Parts, Inc. (NYSE:AAP) PT at $51.13

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have been given an average rating of “Reduce” by the twenty-three ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $50.5626.

Several research analysts recently issued reports on the stock. DA Davidson set a $47.00 price target on shares of Advance Auto Parts in a research report on Monday. Morgan Stanley reduced their target price on shares of Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. UBS Group set a $40.00 price target on shares of Advance Auto Parts in a research note on Thursday, October 30th. Citigroup dropped their price objective on shares of Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Truist Financial set a $48.00 price objective on Advance Auto Parts in a research report on Wednesday, December 17th.

Insider Buying and Selling

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the completion of the sale, the executive vice president directly owned 23,165 shares of the company’s stock, valued at approximately $1,181,415. The trade was a 24.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors have recently modified their holdings of the business. Gainplan LLC bought a new stake in shares of Advance Auto Parts in the 2nd quarter valued at $700,000. Pzena Investment Management LLC grew its stake in Advance Auto Parts by 1.9% in the second quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock valued at $204,322,000 after acquiring an additional 82,456 shares during the period. Friedenthal Financial bought a new stake in shares of Advance Auto Parts in the second quarter worth about $869,000. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Advance Auto Parts in the second quarter worth about $371,000. Finally, Parkwood LLC acquired a new stake in shares of Advance Auto Parts during the second quarter worth about $16,922,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Advance Auto Parts Stock Down 2.0%

AAP opened at $42.95 on Tuesday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -6.83 and a beta of 1.14. 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’s 50-day simple moving average is $46.36 and its 200-day simple moving average is $53.64. Advance Auto Parts has a twelve month low of $28.89 and a twelve month high of $70.00.

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

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 9th. This represents a $1.00 annualized dividend and a yield of 2.3%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.90%.

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.