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. It also offers air conditioning chemicals and accessories; air fresheners; antifreeze and washer fluids; electrical wires and fuses; electronics; floor mats, seat covers, and interior accessories; hand and specialty tools; lighting products; performance parts; sealants, adhesives and compounds; tire repair accessories; vent shades, mirrors and exterior accessories; washes, waxes and cleaning supplies; and wiper blades. In addition, the company offers air filters; fuel and oil additives; fuel filters; grease and lubricants; motor oils; oil filters, part cleaners and treatments; and transmission fluids for engine maintenance. Further, it offers battery and wiper installation; engine light scanning and checking; electrical system testing; video clinic; oil and battery recycling; and loaner tool program services. Additionally, the company sells its products through its website. It serves professional installers and do-it-yourself customers. The company operates stores under the Advance Auto Parts, Autopart International, and Carquest brands, as well as branches under the Worldpac name. As of April 23, 2022, it operated 4,687 stores and 311 branches in the United States, Puerto Rico, the U.S. Virgin Islands, and Canada; and served 1,318 independently owned Carquest branded stores in Mexico, Grand Cayman, the Bahamas, Turks and Caicos, and the British Virgin Islands. The company was founded in 1929 and is based in Raleigh, North Carolina.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on AAP shares. Royal Bank of Canada reduced their price target on Advance Auto Parts from $247.00 to $217.00 in a report on Wednesday, May 25th. Truist Financial reduced their price target on Advance Auto Parts from $276.00 to $238.00 and set a "buy" rating for the company in a report on Wednesday, May 25th. Wedbush reduced their price target on Advance Auto Parts from $270.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, May 24th. Guggenheim reduced their target price on Advance Auto Parts from $266.00 to $259.00 and set a "buy" rating for the company in a report on Wednesday, May 25th. Finally, Morgan Stanley reduced their target price on Advance Auto Parts from $240.00 to $225.00 and set an "equal weight" rating for the company in a report on Tuesday, May 24th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $242.17.
Advance Auto Parts Trading Up 1.0 %
Advance Auto Parts stock traded up $1.86 during mid-day trading on Friday, hitting $193.42. The company's stock had a trading volume of 367,683 shares, compared to its average volume of 626,692. The firm has a market capitalization of $11.73 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.12 and a beta of 1.22. Advance Auto Parts has a 1 year low of $164.00 and a 1 year high of $244.55. The company has a current ratio of 1.20, a quick ratio of 0.25 and a debt-to-equity ratio of 0.41. The stock's fifty day moving average is $183.69 and its two-hundred day moving average is $202.47.
Advance Auto Parts (NYSE:AAP - Get Rating) last issued its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.53 by $0.04. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.39 billion. Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.34 earnings per share. On average, analysts anticipate that Advance Auto Parts will post 13.68 EPS for the current year.
Advance Auto Parts Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 17th were given a $1.50 dividend. The ex-dividend date was Thursday, June 16th. This represents a $6.00 annualized dividend and a yield of 3.10%. Advance Auto Parts's payout ratio is 66.82%.