Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report) have received an average rating of “Reduce” from the nineteen research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $68.88.
Several equities research analysts have commented on AAP shares. Bank of America downgraded shares of Advance Auto Parts from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $60.00 to $43.00 in a report on Thursday, November 16th. Barclays upped their price objective on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday. The Goldman Sachs Group dropped their price objective on shares of Advance Auto Parts from $83.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. TheStreet raised shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Finally, Truist Financial increased their price target on shares of Advance Auto Parts from $53.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday.
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Insider Buying and Selling
In other Advance Auto Parts news, EVP Kristen L. Soler purchased 500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $55.60 per share, with a total value of $27,800.00. Following the completion of the purchase, the executive vice president now directly owns 12,697 shares of the company’s stock, valued at approximately $705,953.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Advance Auto Parts news, EVP Kristen L. Soler purchased 500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $55.60 per share, with a total value of $27,800.00. Following the completion of the purchase, the executive vice president now directly owns 12,697 shares of the company’s stock, valued at approximately $705,953.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristen L. Soler acquired 1,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were purchased at an average cost of $52.87 per share, with a total value of $52,870.00. Following the transaction, the executive vice president now directly owns 12,197 shares of the company’s stock, valued at approximately $644,855.39. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Advance Auto Parts
Several institutional investors and hedge funds have recently added to or reduced their stakes in AAP. Readystate Asset Management LP purchased a new position in shares of Advance Auto Parts in the 4th quarter worth about $1,567,000. Quarry LP raised its position in shares of Advance Auto Parts by 285.7% in the 4th quarter. Quarry LP now owns 702 shares of the company’s stock worth $43,000 after purchasing an additional 520 shares during the last quarter. FIL Ltd raised its position in shares of Advance Auto Parts by 9,807.5% in the 4th quarter. FIL Ltd now owns 161,790 shares of the company’s stock worth $9,874,000 after purchasing an additional 160,157 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Advance Auto Parts by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 24,864 shares of the company’s stock worth $1,517,000 after purchasing an additional 680 shares during the last quarter. Finally, Dagco Inc. purchased a new position in shares of Advance Auto Parts in the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.
Advance Auto Parts Price Performance
AAP opened at $69.26 on Friday. The firm has a market cap of $4.12 billion, a P/E ratio of 93.59, a PEG ratio of 1.26 and a beta of 1.15. The firm has a 50-day moving average of $63.68 and a 200 day moving average of $59.67. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.27 and a current ratio of 1.20. Advance Auto Parts has a fifty-two week low of $47.73 and a fifty-two week high of $140.26.
Advance Auto Parts (NYSE:AAP – Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.83). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. Advance Auto Parts’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.88 EPS. On average, research analysts expect that Advance Auto Parts will post 3.76 EPS for the current year.
Advance Auto Parts Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts’s payout ratio is 135.14%.
Advance Auto Parts Company Profile
(Get Free Report
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.
Further Reading
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