TD Cowen Cuts Advance Auto Parts (NYSE:AAP) Price Target to $46.00

Advance Auto Parts (NYSE:AAP) had its price objective cut by TD Cowen from $62.00 to $46.00 in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a hold rating on the stock.

A number of other equities analysts have also recently commented on AAP. Morgan Stanley lowered their price target on Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Citigroup decreased their target price on Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Evercore ISI dropped their target price on shares of Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating for the company in a report on Tuesday, December 16th. Truist Financial set a $48.00 price target on shares of Advance Auto Parts in a research note on Wednesday, December 17th. Finally, Roth Mkm reiterated a “neutral” rating and set a $55.00 price objective (up from $50.00) on shares of Advance Auto Parts in a research report on Monday, October 27th. Three investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $50.08.

Advance Auto Parts Price Performance

AAP stock opened at $45.86 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.73 and a debt-to-equity ratio of 1.55. Advance Auto Parts has a 12 month low of $28.89 and a 12 month high of $70.00. The firm has a market cap of $2.75 billion, a P/E ratio of -7.29 and a beta of 1.14. The company’s 50-day moving average price is $45.45 and its two-hundred day moving average price is $53.27.

Advance Auto Parts (NYSE:AAP) last issued its quarterly 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. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. Advance Auto Parts had a negative net margin of 4.37% and a positive return on equity of 0.64%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) EPS. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. On average, analysts anticipate that Advance Auto Parts will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, January 9th. This represents a $1.00 annualized dividend and a yield of 2.2%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.90%.

Insiders Place Their Bets

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the business’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 transaction of $390,762.00. Following the sale, the executive vice president directly owned 23,165 shares of the company’s stock, valued at $1,181,415. The trade was a 24.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by insiders.

Institutional Trading of Advance Auto Parts

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. REAP Financial Group LLC acquired a new position in Advance Auto Parts in the second quarter valued at $26,000. Salomon & Ludwin LLC bought a new position in shares of Advance Auto Parts in the 3rd quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Advance Auto Parts during the 3rd quarter valued at about $31,000. AlphaCore Capital LLC grew its stake in Advance Auto Parts by 6,288.9% during the third quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock worth $35,000 after purchasing an additional 566 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Advance Auto Parts by 290.3% in the second quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock worth $43,000 after purchasing an additional 688 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

About Advance Auto Parts

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.