Evercore ISI Trims Advance Auto Parts (NYSE:AAP) Target Price to $78.00

Advance Auto Parts (NYSE:AAP - Free Report) had its target price reduced by Evercore ISI from $82.00 to $78.00 in a research report report published on Tuesday, Marketbeat.com reports. They currently have an in-line rating on the stock.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Advance Auto Parts from $55.00 to $68.00 and gave the company a neutral rating in a research note on Thursday, February 29th. Mizuho began coverage on Advance Auto Parts in a research note on Tuesday, March 19th. They set a neutral rating and a $78.00 target price on the stock. Truist Financial lifted their target price on Advance Auto Parts from $60.00 to $70.00 and gave the company a hold rating in a research note on Tuesday, April 2nd. Barclays lifted their price target on Advance Auto Parts from $56.00 to $66.00 and gave the company an equal weight rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada boosted their target price on Advance Auto Parts from $47.00 to $68.00 and gave the stock a sector perform rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $70.18.

Advance Auto Parts Price Performance

NYSE:AAP traded up $1.52 during mid-day trading on Tuesday, reaching $71.60. 1,592,129 shares of the stock were exchanged, compared to its average volume of 1,847,911. The business has a fifty day moving average price of $73.84 and a 200 day moving average price of $63.22. The firm has a market capitalization of $4.27 billion, a PE ratio of 96.76, a PEG ratio of 1.28 and a beta of 1.17. Advance Auto Parts has a 1-year low of $47.73 and a 1-year high of $129.90. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The company had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.47 billion. During the same period in the prior year, the business posted $2.88 EPS. The company's revenue for the quarter was down .4% compared to the same quarter last year. Research analysts expect that Advance Auto Parts will post 3.94 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $0.25 dividend. The ex-dividend date is Thursday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. Advance Auto Parts's payout ratio is 135.14%.

Insider Activity

In other Advance Auto Parts news, Director Carla Jean Bailo purchased 310 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were bought at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the purchase, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Carla Jean Bailo acquired 310 shares of Advance Auto Parts stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the transaction, the director now directly owns 5,789 shares of the company's stock, valued at approximately $470,008.91. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brent Windom acquired 4,700 shares of Advance Auto Parts stock in a transaction that occurred on Wednesday, March 27th. The shares were purchased at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. Corporate insiders own 0.63% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company's stock worth $32,000 after buying an additional 83 shares during the period. Clear Street Markets LLC raised its stake in Advance Auto Parts by 245.9% during the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company's stock worth $26,000 after buying an additional 150 shares during the period. Industrial Alliance Investment Management Inc. raised its stake in Advance Auto Parts by 469.4% during the 4th quarter. Industrial Alliance Investment Management Inc. now owns 353 shares of the company's stock worth $52,000 after buying an additional 291 shares during the period. UniSuper Management Pty Ltd bought a new stake in Advance Auto Parts during the 2nd quarter worth approximately $28,000. Finally, Allworth Financial LP increased its holdings in Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company's stock worth $25,000 after purchasing an additional 266 shares in the last quarter. 88.75% of the stock is 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.