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.
Analyst Ratings Changes
A number of research analysts have recently commented on AAP shares. Guggenheim dropped their price target on Advance Auto Parts from $266.00 to $259.00 and set a "buy" rating for the company in a research note on Wednesday, May 25th. Citigroup dropped their price target on Advance Auto Parts from $294.00 to $250.00 in a research note on Friday, May 13th. Morgan Stanley dropped their price target on Advance Auto Parts from $240.00 to $225.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 24th. Truist Financial dropped their price target on Advance Auto Parts from $276.00 to $238.00 and set a "buy" rating for the company in a research note on Wednesday, May 25th. Finally, StockNews.com upgraded Advance Auto Parts from a "hold" rating to a "buy" rating in a research note on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $242.17.
Advance Auto Parts Stock Performance
Shares of Advance Auto Parts stock opened at $205.33 on Tuesday. 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 business has a 50-day moving average price of $184.55 and a two-hundred day moving average price of $201.00. Advance Auto Parts has a 1-year low of $164.00 and a 1-year high of $244.55. The company has a market cap of $12.45 billion, a P/E ratio of 22.87, a PEG ratio of 1.17 and a beta of 1.22.
Advance Auto Parts (NYSE:AAP - Get Rating) last issued its quarterly earnings results on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, topping analysts' consensus estimates of $3.53 by $0.04. Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the business posted $3.34 EPS. The business's revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Advance Auto Parts will post 13.68 EPS for the current year.
Advance Auto Parts Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 17th were given a dividend of $1.50 per share. The ex-dividend date was Thursday, June 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.92%. Advance Auto Parts's dividend payout ratio (DPR) is presently 66.82%.