Weiss Ratings Reaffirms Sell (D) Rating for Advance Auto Parts (NYSE:AAP)

Key Points

• Weiss Ratings has reaffirmed a "sell (D)" rating for Advance Auto Parts (NYSE:AAP), indicating continued bearish sentiment among analysts.
• The stock has seen a decline of 5.8%, closing at $53.54 during midday trading, with a recent trading volume of 995,680 shares.
• Despite a recent earnings report showing a beat on estimates, the company's revenue fell by 7.7% year-over-year, raising concerns about its financial stability.

Advance Auto Parts (NYSE:AAP - Get Free Report)'s stock had its "sell (d)" rating restated by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

AAP has been the topic of a number of other reports. DA Davidson set a $65.00 price objective on shares of Advance Auto Parts in a research note on Thursday, August 14th. Mizuho raised their price objective on shares of Advance Auto Parts from $44.00 to $54.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Evercore ISI lifted their price objective on shares of Advance Auto Parts from $56.00 to $58.00 and gave the stock an "in-line" rating in a report on Tuesday, August 12th. The Goldman Sachs Group cut Advance Auto Parts from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $48.00 to $46.00 in a research note on Tuesday, June 24th. Finally, Wolfe Research started coverage on Advance Auto Parts in a research note on Thursday, September 18th. They issued a "peer perform" rating on the stock. One equities research analyst has rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $52.03.

Advance Auto Parts Stock Down 5.8%

AAP stock traded down $3.30 during midday trading on Wednesday, reaching $53.54. The company had a trading volume of 995,680 shares, compared to its average volume of 2,476,309. Advance Auto Parts has a 1 year low of $28.89 and a 1 year high of $70.00. The company has a 50 day moving average of $59.37 and a two-hundred day moving average of $49.35. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.21 billion, a P/E ratio of -8.40 and a beta of 1.08.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the business earned $0.75 EPS. The firm's revenue was down 7.7% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. On average, equities research analysts expect that Advance Auto Parts will post -0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AMG National Trust Bank lifted its position in Advance Auto Parts by 38.1% during the first quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock worth $1,710,000 after buying an additional 12,040 shares in the last quarter. Raymond James Financial Inc. increased its stake in Advance Auto Parts by 13.0% during the first quarter. Raymond James Financial Inc. now owns 210,886 shares of the company's stock worth $8,269,000 after acquiring an additional 24,342 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Advance Auto Parts by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock valued at $107,500,000 after buying an additional 13,412 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Advance Auto Parts by 455.0% in the first quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock valued at $2,305,000 after buying an additional 48,198 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Advance Auto Parts by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 294,537 shares of the company's stock worth $11,549,000 after purchasing an additional 6,805 shares in the last quarter. Hedge funds and other institutional investors own 88.70% 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.

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