Advance Auto Parts (NYSE:AAP) Price Target Raised to $47.00 at DA Davidson

Advance Auto Parts (NYSE:AAP - Free Report) had its target price upped by DA Davidson from $45.00 to $47.00 in a research report released on Friday,Benzinga reports. The firm currently has a neutral rating on the stock. DA Davidson also issued estimates for Advance Auto Parts' Q2 2025 earnings at $0.47 EPS and FY2025 earnings at $2.04 EPS.

Several other analysts have also weighed in on AAP. Wells Fargo & Company set a $35.00 target price on shares of Advance Auto Parts and gave the company an "equal weight" rating in a research note on Monday, May 19th. Evercore ISI lifted their price target on shares of Advance Auto Parts from $35.00 to $45.00 and gave the company an "in-line" rating in a report on Friday, May 23rd. Bank of America increased their price objective on shares of Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a research note on Friday, May 23rd. Morgan Stanley raised 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 report on Friday, May 23rd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $48.00 target price (up from $43.00) on shares of Advance Auto Parts in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Advance Auto Parts has an average rating of "Hold" and an average target price of $46.11.

Advance Auto Parts Stock Up 6.4%

Shares of AAP stock traded up $3.15 during trading hours on Friday, hitting $52.75. 6,726,221 shares of the company were exchanged, compared to its average volume of 2,470,454. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts has a one year low of $28.89 and a one year high of $71.09. The business's 50-day simple moving average is $35.41 and its two-hundred day simple moving average is $40.62. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 72.26, a P/E/G ratio of 1.98 and a beta of 0.93.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.59. The firm had revenue of $2.58 billion for the quarter, compared to analysts' expectations of $2.51 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. Advance Auto Parts's revenue for the quarter was down 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Sell-side analysts predict that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business 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. This represents a $1.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's payout ratio is currently -17.04%.

Insider Activity at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company's stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the transaction, the director now owns 34,070 shares of the company's stock, valued at $1,163,490.50. This represents a 75.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Shane M. Okelly acquired 1,500 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was 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 directly owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. This represents a 0.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Advance Auto Parts

Hedge funds have recently modified their holdings of the company. Eminence Capital LP acquired a new position in Advance Auto Parts during the fourth quarter worth about $87,214,000. Price T Rowe Associates Inc. MD boosted its position in shares of Advance Auto Parts by 34.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock valued at $316,160,000 after purchasing an additional 1,706,328 shares in the last quarter. Cooper Creek Partners Management LLC bought a new position in shares of Advance Auto Parts during the 4th quarter valued at about $75,055,000. Marshall Wace LLP grew its stake in shares of Advance Auto Parts by 2,585.1% in the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company's stock worth $64,026,000 after purchasing an additional 1,303,488 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Advance Auto Parts by 2,662.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock worth $61,156,000 after purchasing an additional 1,246,384 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.