Advance Auto Parts (NYSE:AAP) Now Covered by Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of Advance Auto Parts (NYSE:AAP) in a research report released on Friday morning, MarketBeat Ratings reports. The firm issued a market perform rating and a $45.00 target price on the stock.

A number of other equities research analysts have also weighed in on AAP. DA Davidson reiterated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Evercore ISI lifted their target price on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. TD Cowen reduced 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 research report on Friday, August 23rd. Finally, Truist Financial cut their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.40.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock opened at $43.89 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The business’s 50 day simple moving average is $40.24 and its two-hundred day simple moving average is $50.14. The stock has a market capitalization of $2.62 billion, a P/E ratio of 60.12 and a beta of 1.21.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the company earned ($0.82) EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts forecast that Advance Auto Parts will post -0.54 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.28%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Insider Activity

In related news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now owns 24,266 shares in the company, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Large investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Advance Auto Parts in the second quarter worth about $41,000. Blue Trust Inc. raised its stake in Advance Auto Parts by 56.7% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after acquiring an additional 436 shares during the period. AM Squared Ltd bought a new stake in Advance Auto Parts during the 2nd quarter worth approximately $63,000. KBC Group NV boosted its position in shares of Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after purchasing an additional 394 shares during the period. Finally, City State Bank purchased a new stake in shares of Advance Auto Parts in the third quarter worth $78,000. 88.75% of the stock is currently owned by institutional investors.

About Advance Auto Parts

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.