Advance Auto Parts’ (AAP) Neutral Rating Reiterated at DA Davidson

DA Davidson reissued their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a research report sent to investors on Friday,Benzinga reports. They currently have a $45.00 price target on the stock.

Several other analysts have also commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday. UBS Group lifted their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday. TD Cowen reduced their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 23rd. Wells Fargo & Company lowered 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 note on Friday, September 13th. Finally, Evercore ISI cut their price target on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and an average price target of $49.14.

Advance Auto Parts Price Performance

AAP opened at $37.69 on Friday. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.30. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 51.63 and a beta of 1.17. The firm’s fifty day moving average price is $39.02 and its two-hundred day moving average price is $54.11.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) 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 firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the business posted ($0.82) EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, analysts anticipate that Advance Auto Parts will post 2.26 earnings per share 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.65%. Advance Auto Parts’s payout ratio is 136.99%.

Institutional Investors Weigh In On Advance Auto Parts

Several hedge funds have recently made changes to their positions in AAP. Allspring Global Investments Holdings LLC bought a new position in Advance Auto Parts in the first quarter worth $34,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Advance Auto Parts in the 1st quarter worth about $292,000. Sei Investments Co. increased its stake in shares of Advance Auto Parts by 0.6% in the 1st quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock worth $5,055,000 after acquiring an additional 352 shares in the last quarter. US Bancorp DE lifted its position in Advance Auto Parts by 10.3% during the 1st quarter. US Bancorp DE now owns 12,767 shares of the company’s stock valued at $1,086,000 after acquiring an additional 1,197 shares during the period. Finally, Bleakley Financial Group LLC bought a new stake in Advance Auto Parts during the first quarter worth about $207,000. 88.75% of the stock is currently owned by institutional investors.

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.