Advance Auto Parts, Inc. (NYSE:AAP) Receives Average Recommendation of “Hold” from Brokerages

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have been assigned an average rating of “Hold” from the fifteen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $55.92.

Several brokerages recently weighed in on AAP. JPMorgan Chase & Co. dropped their target price on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Wells Fargo & Company decreased their target price on shares of 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. Wedbush raised shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price target for the company in a research report on Tuesday, October 15th. Mizuho restated a “neutral” rating and issued a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. Finally, Truist Financial lowered their price objective on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, August 23rd.

Advance Auto Parts Trading Up 1.8 %

AAP stock opened at $38.84 on Thursday. The company has a market capitalization of $2.32 billion, a PE ratio of 3,884.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The company’s 50 day moving average price is $39.54 and its two-hundred day moving average price is $56.01.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the business earned $1.43 EPS. Advance Auto Parts’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, analysts predict that Advance Auto Parts will post 2.19 earnings per share for the current fiscal year.

Institutional Trading of Advance Auto Parts

Large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Advance Auto Parts by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,998,910 shares of the company’s stock valued at $340,268,000 after purchasing an additional 40,669 shares during the period. Capital World Investors grew its position in shares of Advance Auto Parts by 67.0% in the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after buying an additional 615,674 shares during the period. Third Point LLC bought a new position in shares of Advance Auto Parts in the 1st quarter worth about $127,234,000. Dimensional Fund Advisors LP lifted its position in Advance Auto Parts by 76.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after acquiring an additional 547,696 shares during the period. Finally, Dorsal Capital Management LP boosted its stake in Advance Auto Parts by 159.7% during the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock worth $79,162,000 after acquiring an additional 768,664 shares in the last quarter. 88.75% of the stock is owned by institutional investors.

About Advance Auto Parts

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.