Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Rating of “Hold” by Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has received a consensus rating of “Hold” from the sixteen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $48.64.

AAP has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. Royal Bank of Canada decreased their target price on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI upped their target price on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 20th.

Institutional Investors Weigh In On Advance Auto Parts

A number of institutional investors have recently modified their holdings of AAP. Diversified Trust Co raised its stake in Advance Auto Parts by 3.5% in the 2nd quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock worth $430,000 after purchasing an additional 232 shares in the last quarter. OLD National Bancorp IN increased its holdings in shares of Advance Auto Parts by 6.8% during the second quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after purchasing an additional 237 shares during the period. Sei Investments Co. raised its position in shares of Advance Auto Parts by 0.5% in the second quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock valued at $3,779,000 after buying an additional 277 shares in the last quarter. Qsemble Capital Management LP boosted its stake in shares of Advance Auto Parts by 7.6% in the second quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock valued at $256,000 after buying an additional 285 shares during the period. Finally, Everence Capital Management Inc. grew its position in Advance Auto Parts by 3.7% during the third quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock worth $325,000 after buying an additional 300 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Shares of AAP opened at $41.35 on Monday. The company has a 50 day moving average of $39.21 and a 200-day moving average of $51.73. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.47 billion, a P/E ratio of 56.64 and a beta of 1.17. Advance Auto Parts has a twelve month low of $35.59 and a twelve month high of $88.56.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) 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 business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Advance Auto Parts will post -0.51 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is 136.99%.

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.