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 Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Royal Bank of Canada reduced their price objective on Advance Auto Parts from $247.00 to $217.00 in a research report on Wednesday, May 25th. Stephens reduced their price objective on Advance Auto Parts from $246.00 to $215.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 25th. StockNews.com raised Advance Auto Parts from a "hold" rating to a "buy" rating in a research note on Thursday, August 11th. Truist Financial cut their target price on Advance Auto Parts from $276.00 to $238.00 and set a "buy" rating on the stock in a research note on Wednesday, May 25th. Finally, Guggenheim cut their target price on Advance Auto Parts from $266.00 to $259.00 and set a "buy" rating on the stock in a research note on Wednesday, May 25th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of "Moderate Buy" and a consensus target price of $242.17.
Advance Auto Parts Price Performance
Shares of NYSE:AAP traded down $2.49 during mid-day trading on Thursday, reaching $207.49. The company had a trading volume of 520,909 shares, compared to its average volume of 809,032. 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 has a market cap of $12.58 billion, a PE ratio of 23.11, a P/E/G ratio of 1.21 and a beta of 1.22. The company has a 50-day moving average price of $185.95 and a two-hundred day moving average price of $200.96. Advance Auto Parts has a 1-year low of $164.00 and a 1-year high of $244.55.
Advance Auto Parts (NYSE:AAP - Get Rating) last issued its earnings results on Monday, May 23rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.53 by $0.04. The business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.39 billion. Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.34 EPS. On average, equities analysts anticipate that Advance Auto Parts will post 13.68 earnings per share for the current year.
Advance Auto Parts Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 17th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.89%. Advance Auto Parts's dividend payout ratio is 66.82%.