Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Rating of "Reduce" by Analysts

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) has been given an average rating of "Reduce" by the twenty-two brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $46.53.

AAP has been the subject of a number of research analyst reports. Mizuho upped their price target on shares of Advance Auto Parts from $38.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. UBS Group reissued a "neutral" rating and issued a $50.00 price target (up from $36.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Wall Street Zen lowered shares of Advance Auto Parts from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. The Goldman Sachs Group lowered shares of Advance Auto Parts from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $48.00 to $46.00 in a research note on Tuesday, June 24th. Finally, Evercore ISI upped their price objective on shares of Advance Auto Parts from $50.00 to $52.00 and gave the company an "in-line" rating in a research note on Tuesday, June 24th.

Insider Buying and Selling

In related news, SVP Jason Hand sold 948 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the transaction, the senior vice president owned 9,876 shares in the company, valued at approximately $479,183.52. This represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company's stock.

Hedge Funds Weigh In On Advance Auto Parts

A number of hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its holdings in Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after purchasing an additional 465 shares during the last quarter. Parallel Advisors LLC grew its holdings in Advance Auto Parts by 355.8% during the second quarter. Parallel Advisors LLC now owns 939 shares of the company's stock valued at $44,000 after purchasing an additional 733 shares during the last quarter. Advisory Services Network LLC acquired a new position in Advance Auto Parts during the fourth quarter valued at approximately $46,000. Financial Management Professionals Inc. acquired a new position in Advance Auto Parts during the first quarter valued at approximately $49,000. Finally, Exchange Traded Concepts LLC grew its holdings in Advance Auto Parts by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock valued at $91,000 after purchasing an additional 2,140 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

Advance Auto Parts Price Performance

AAP traded down $1.15 on Tuesday, reaching $61.14. The company had a trading volume of 2,803,348 shares, compared to its average volume of 2,619,393. The company has a fifty day moving average of $47.95 and a 200-day moving average of $42.83. The company has a market capitalization of $3.66 billion, a P/E ratio of -10.42 and a beta of 1.04. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. Advance Auto Parts has a one year low of $28.89 and a one year high of $64.92.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.81) by $0.59. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the company earned $0.67 EPS. Advance Auto Parts's revenue was down 24.2% on a year-over-year basis. As a group, equities research analysts anticipate that Advance Auto Parts will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. Advance Auto Parts's dividend payout ratio is currently -17.04%.

Advance Auto Parts Company Profile

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.