Advance Auto Parts (NYSE:AAP) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Advance Auto Parts (NYSE:AAP) in a research report sent to investors on Monday,Benzinga reports. They currently have a $55.00 price target on the stock. Wedbush also issued estimates for Advance Auto Parts’ Q1 2025 earnings at ($0.74) EPS, Q2 2025 earnings at $0.86 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $0.35 EPS, FY2025 earnings at $1.56 EPS, FY2026 earnings at $3.91 EPS and FY2027 earnings at $5.50 EPS.

A number of other research analysts also recently weighed in on AAP. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. Evercore ISI upped their target price on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. Barclays lowered their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. The Goldman Sachs Group lowered their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Royal Bank of Canada lowered their price objective on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.69.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $35.31 on Monday. The firm’s 50-day moving average price is $45.88 and its 200-day moving average price is $43.50. Advance Auto Parts has a 1-year low of $35.02 and a 1-year high of $88.56. The firm has a market capitalization of $2.11 billion, a P/E ratio of 48.37, a P/E/G ratio of 1.98 and a beta of 1.15. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s payout ratio is -17.86%.

Insiders Place Their Bets

In other news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Advance Auto Parts

Several institutional investors have recently added to or reduced their stakes in AAP. CIBC Asset Management Inc increased its stake in shares of Advance Auto Parts by 3.9% during the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock worth $277,000 after purchasing an additional 221 shares during the last quarter. Yousif Capital Management LLC increased its position in Advance Auto Parts by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock worth $1,242,000 after buying an additional 281 shares during the last quarter. Ingalls & Snyder LLC increased its position in Advance Auto Parts by 5.0% in the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock worth $316,000 after buying an additional 317 shares during the last quarter. Studio Investment Management LLC increased its position in Advance Auto Parts by 6.7% in the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company’s stock worth $263,000 after buying an additional 350 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after acquiring an additional 365 shares during the last quarter. Institutional investors 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.