Advance Auto Parts (NYSE:AAP) Given New $43.00 Price Target at The Goldman Sachs Group

Advance Auto Parts (NYSE:AAP) had its target price cut by The Goldman Sachs Group from $60.00 to $43.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently issued reports on AAP. Wells Fargo & Company cut their target price on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Truist Financial reduced their price objective on Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. TD Cowen cut their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. JPMorgan Chase & Co. reduced their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Finally, Wedbush raised shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $49.14.

Advance Auto Parts Stock Down 8.5 %

NYSE AAP traded down $3.51 during trading on Friday, hitting $37.69. The company’s stock had a trading volume of 5,899,565 shares, compared to its average volume of 2,053,840. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a market cap of $2.25 billion, a PE ratio of 51.62, a P/E/G ratio of 1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. The business’s 50 day simple moving average is $39.02 and its 200-day simple moving average is $54.37.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the business earned $1.43 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts anticipate that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s payout ratio is 136.99%.

Institutional Investors Weigh In On Advance Auto Parts

A number of institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Advance Auto Parts during the 1st quarter worth approximately $34,000. Mather Group LLC. lifted its holdings in Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after purchasing an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Advance Auto Parts during the 2nd quarter worth $41,000. Blue Trust Inc. raised its position in shares of Advance Auto Parts by 98.7% in the second quarter. Blue Trust Inc. now owns 769 shares of the company’s stock valued at $49,000 after buying an additional 382 shares during the last quarter. Finally, AM Squared Ltd purchased a new position in shares of Advance Auto Parts in the second quarter worth about $63,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

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.