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

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) has received an average recommendation of "Hold" from the twenty-two research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, twenty have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $46.25.

Several research analysts have recently issued reports on AAP shares. Royal Bank Of Canada dropped their price objective on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Bank of America upped their target price on shares of Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a research note on Friday, May 23rd. The Goldman Sachs Group reissued a "neutral" rating and issued a $48.00 target price (up previously from $43.00) on shares of Advance Auto Parts in a research note on Thursday, May 22nd. DA Davidson upped their target price on shares of Advance Auto Parts from $45.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Truist Financial lowered their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the transaction, the senior vice president now directly owns 9,876 shares of the company's stock, valued at approximately $479,183.52. The trade was a 8.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc increased its holdings in Advance Auto Parts by 3.9% during the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock worth $277,000 after purchasing an additional 221 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Advance Auto Parts by 10.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock worth $129,000 after buying an additional 300 shares during the last quarter. Sovran Advisors LLC boosted its stake in shares of Advance Auto Parts by 4.3% in the 1st quarter. Sovran Advisors LLC now owns 7,822 shares of the company's stock worth $307,000 after buying an additional 322 shares during the last quarter. Studio Investment Management LLC boosted its stake in shares of Advance Auto Parts by 6.7% in the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock worth $263,000 after buying an additional 350 shares during the last quarter. Finally, Investors Research Corp lifted its stake in Advance Auto Parts by 7.1% in the first quarter. Investors Research Corp now owns 5,625 shares of the company's stock valued at $221,000 after purchasing an additional 375 shares during the last quarter. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Stock Performance

Advance Auto Parts stock traded up $2.55 on Friday, reaching $51.97. 2,279,220 shares of the stock were exchanged, compared to its average volume of 2,484,438. The stock has a market cap of $3.11 billion, a PE ratio of -8.85 and a beta of 1.06. 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 twelve month low of $28.89 and a twelve month high of $66.08. The firm has a fifty day moving average price of $40.72 and a two-hundred day moving average price of $41.70.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The business's revenue was down 24.2% compared to the same quarter last year. Sell-side analysts anticipate that Advance Auto Parts will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's dividend payout ratio is presently -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.