Advance Auto Parts, Inc. (NYSE:AAP) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have been assigned an average recommendation of “Reduce” from the sixteen research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $63.80.

AAP has been the subject of several recent research reports. Mizuho reduced their price target on shares of Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating for the company in a report on Monday, June 10th. StockNews.com upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Wedbush restated a “neutral” rating and issued a $70.00 price target on shares of Advance Auto Parts in a report on Friday, May 24th. Bank of America boosted their price target on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. Finally, Evercore ISI cut their price objective on shares of Advance Auto Parts from $73.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday.

Institutional Trading of Advance Auto Parts

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Advance Auto Parts by 60.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,658 shares of the company’s stock valued at $105,000 after acquiring an additional 627 shares during the period. Cetera Advisors LLC acquired a new stake in Advance Auto Parts during the 1st quarter valued at approximately $487,000. Tidal Investments LLC lifted its stake in Advance Auto Parts by 12.4% during the 1st quarter. Tidal Investments LLC now owns 14,590 shares of the company’s stock valued at $1,242,000 after acquiring an additional 1,612 shares during the period. Redwood Investment Management LLC acquired a new stake in Advance Auto Parts during the 1st quarter valued at approximately $639,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Advance Auto Parts by 3.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,014,639 shares of the company’s stock valued at $86,336,000 after acquiring an additional 32,426 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Trading Down 1.2 %

Shares of AAP opened at $59.86 on Friday. Advance Auto Parts has a 1-year low of $47.73 and a 1-year high of $88.56. The company has a 50-day moving average of $68.34 and a 200 day moving average of $69.29. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 86.75, a PEG ratio of 1.16 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 0.29.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts expect that Advance Auto Parts will post 3.72 EPS for the current year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, July 12th. Advance Auto Parts’s dividend payout ratio is presently 144.93%.

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.