Advance Auto Parts, Inc. (NYSE:AAP) Receives Consensus Rating of “Reduce” from Analysts

Advance Auto Parts, Inc. (NYSE:AAP) has earned a consensus rating of “Reduce” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $56.54.

Several equities research analysts have recently weighed in on AAP shares. Bank of America increased their target price on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. StockNews.com raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. UBS Group upped their target price on Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. reduced their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Wells Fargo & Company dropped their price objective on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, September 13th.

Advance Auto Parts Stock Down 3.4 %

Shares of NYSE:AAP opened at $40.99 on Wednesday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 59.41, a PEG ratio of 1.26 and a beta of 1.17. Advance Auto Parts has a 12 month low of $37.51 and a 12 month high of $88.56. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $53.15 and a 200 day moving average price of $65.44.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. Advance Auto Parts’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 earnings per share. As a group, equities research analysts predict that Advance Auto Parts will post 2.19 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. Advance Auto Parts’s dividend payout ratio is currently 144.93%.

Hedge Funds Weigh In On Advance Auto Parts

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in Advance Auto Parts by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,998,910 shares of the company’s stock worth $340,268,000 after buying an additional 40,669 shares during the period. Capital World Investors raised its position in shares of Advance Auto Parts by 67.0% in the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after acquiring an additional 615,674 shares in the last quarter. Third Point LLC purchased a new stake in shares of Advance Auto Parts during the 1st quarter worth $127,234,000. Dimensional Fund Advisors LP boosted its position in Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after purchasing an additional 547,696 shares in the last quarter. Finally, Dorsal Capital Management LP grew its stake in Advance Auto Parts by 159.7% in the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock valued at $79,162,000 after purchasing an additional 768,664 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

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.