Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Recommendation of “Reduce” by Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has earned an average rating of “Reduce” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $64.56.

AAP has been the topic of several analyst reports. Evercore ISI dropped their target price on Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Mizuho began coverage on shares of Advance Auto Parts in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 price target on the stock. Barclays boosted their price objective on Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. TheStreet raised Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Finally, Royal Bank of Canada upped their price target on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th.

Insiders Place Their Bets

In related news, Director Carla Jean Bailo bought 310 shares of the business’s stock in a transaction on Monday, March 18th. The stock was bought 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 in the company, valued at $470,008.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the sale, the executive vice president now directly owns 10,448 shares in the company, valued at approximately $899,363.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carla Jean Bailo acquired 310 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the transaction, the director now owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The disclosure for this purchase can be found here. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AAP. Allworth Financial LP raised its holdings in Advance Auto Parts by 190.0% during the fourth quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after buying an additional 266 shares in the last quarter. Principal Securities Inc. acquired a new position in Advance Auto Parts in the 4th quarter valued at $27,000. UMB Bank n.a. lifted its position in Advance Auto Parts by 508.3% during the 3rd quarter. UMB Bank n.a. now owns 511 shares of the company’s stock worth $29,000 after acquiring an additional 427 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in Advance Auto Parts by 267.7% during the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after acquiring an additional 257 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Advance Auto Parts in the first quarter valued at about $34,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Stock Performance

AAP stock opened at $75.14 on Friday. The stock’s 50 day simple moving average is $75.72 and its 200 day simple moving average is $64.40. Advance Auto Parts has a 12-month low of $47.73 and a 12-month high of $127.31. The firm has a market cap of $4.48 billion, a P/E ratio of 101.54, a P/E/G ratio of 1.36 and a beta of 1.17. 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) last issued its 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 business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company posted $2.88 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts predict that Advance Auto Parts will post 3.94 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, April 11th. Advance Auto Parts’s payout ratio is 135.14%.

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.