Advance Auto Parts, Inc. (NYSE:AAP) Given Average Recommendation of “Reduce” by Analysts

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have received an average recommendation of “Reduce” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and thirteen have issued a hold rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $56.54.

A number of research firms have issued reports on AAP. Mizuho reissued a “neutral” rating and set a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Wells Fargo & Company reduced their target price on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Bank of America boosted their target price on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. Wedbush reaffirmed a “neutral” rating and issued a $55.00 price target (down from $65.00) on shares of Advance Auto Parts in a research note on Friday, August 23rd. Finally, UBS Group upped their price target on shares of Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th.

Institutional Trading of Advance Auto Parts

A number of hedge funds and other institutional investors have recently made changes to their positions in AAP. Victory Capital Management Inc. raised its holdings in shares of Advance Auto Parts by 19.3% in the 4th quarter. Victory Capital Management Inc. now owns 12,519 shares of the company’s stock worth $764,000 after purchasing an additional 2,027 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Advance Auto Parts by 19.2% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 6,741 shares of the company’s stock valued at $411,000 after acquiring an additional 1,086 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Advance Auto Parts by 50.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,624 shares of the company’s stock valued at $1,503,000 after acquiring an additional 8,213 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in shares of Advance Auto Parts by 8.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,711 shares of the company’s stock valued at $165,000 after acquiring an additional 206 shares during the period. 88.75% of the stock is currently owned by institutional investors.

Advance Auto Parts Trading Up 0.8 %

NYSE AAP opened at $40.91 on Wednesday. Advance Auto Parts has a one year low of $37.51 and a one year high of $88.56. The company has a 50-day simple moving average of $52.25 and a 200-day simple moving average of $64.98. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The firm has a market capitalization of $2.44 billion, a PE ratio of 59.29, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that Advance Auto Parts will post 2.19 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.44%. Advance Auto Parts’s payout ratio is currently 144.93%.

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.