Advance Auto Parts (NYSE:AAP) Stock Price Up 7.3% Following Analyst Upgrade

Advance Auto Parts, Inc. (NYSE:AAP)’s stock price traded up 7.3% during mid-day trading on Wednesday after Citigroup upgraded the stock from a neutral rating to a buy rating. The company traded as high as $44.30 and last traded at $44.3110. Approximately 662,859 shares traded hands during trading, a decline of 63% from the average session volume of 1,794,626 shares. The stock had previously closed at $41.31.

A number of other equities research analysts also recently issued reports on AAP. Cfra Research raised Advance Auto Parts to a “hold” rating in a research report on Thursday, October 30th. TD Cowen reduced their target price on Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday. Morgan Stanley decreased their price target on Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Roth Capital reaffirmed a “neutral” rating and set a $55.00 price objective (up previously from $50.00) on shares of Advance Auto Parts in a research report on Monday, October 27th. Finally, Northcoast Research raised shares of Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.08.

Insider Buying and Selling

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $51.00, for a total value of $390,762.00. Following the sale, the executive vice president owned 23,165 shares in the company, valued at $1,181,415. This trade represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advance Auto Parts

Several hedge funds have recently modified their holdings of AAP. Fearless Solutions LLC dba Best Invest increased its holdings in Advance Auto Parts by 15.2% in the 4th quarter. Fearless Solutions LLC dba Best Invest now owns 6,240 shares of the company’s stock worth $245,000 after purchasing an additional 825 shares in the last quarter. Fluent Financial LLC acquired a new stake in shares of Advance Auto Parts during the fourth quarter valued at about $6,228,000. Exchange Traded Concepts LLC grew its holdings in shares of Advance Auto Parts by 16.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 15,179 shares of the company’s stock worth $597,000 after purchasing an additional 2,160 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of Advance Auto Parts by 4.0% in the fourth quarter. Moody National Bank Trust Division now owns 25,984 shares of the company’s stock valued at $1,021,000 after buying an additional 1,009 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Advance Auto Parts by 8.4% in the fourth quarter. SG Americas Securities LLC now owns 39,711 shares of the company’s stock valued at $1,561,000 after buying an additional 3,077 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Advance Auto Parts Trading Up 7.3%

The business’s fifty day moving average is $45.65 and its 200-day moving average is $53.38. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.73. The firm has a market cap of $2.66 billion, a P/E ratio of -7.05 and a beta of 1.14.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. Advance Auto Parts had a negative net margin of 4.37% and a positive return on equity of 0.64%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the firm posted ($0.04) EPS. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. Advance Auto Parts’s payout ratio is currently -15.90%.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.