Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Recommendation of "Hold" by Brokerages

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) has earned an average recommendation of "Hold" from the twenty research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $45.90.

Several brokerages have issued reports on AAP. Morgan Stanley lifted their target price on shares of Advance Auto Parts from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Friday. Royal Bank of Canada lowered their price target on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Evercore ISI increased their price objective on Advance Auto Parts from $35.00 to $45.00 and gave the company an "in-line" rating in a report on Friday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $48.00 price objective (up previously from $43.00) on shares of Advance Auto Parts in a research report on Thursday. Finally, Citigroup cut their price target on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th.

Advance Auto Parts Price Performance

NYSE AAP traded up $0.92 during trading hours on Monday, reaching $49.59. The company's stock had a trading volume of 5,343,087 shares, compared to its average volume of 2,453,721. The firm's 50-day moving average price is $35.10 and its 200-day moving average price is $40.53. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 1 year low of $28.89 and a 1 year high of $71.62. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 67.93, a PEG ratio of 1.98 and a beta of 0.93.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The business's revenue was down 24.2% compared to the same quarter last year. On average, equities research analysts predict that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 2.02%. Advance Auto Parts's payout ratio is currently -17.04%.

Insiders Place Their Bets

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. This represents a 0.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the business's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the transaction, the director now directly owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. The trade was a 75.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company's stock.

Institutional Trading of Advance Auto Parts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC raised its stake in Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after purchasing an additional 465 shares during the period. Allworth Financial LP raised its position in Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after purchasing an additional 818 shares during the last quarter. Vision Financial Markets LLC purchased a new position in Advance Auto Parts during the 4th quarter worth $42,000. Advisory Services Network LLC purchased a new position in shares of Advance Auto Parts in the 4th quarter valued at about $46,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of Advance Auto Parts during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 88.75% of the company's stock.

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.