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

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have been given a consensus rating of “Reduce” by the eighteen research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $64.56.

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. upped their price objective on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Truist Financial upped their price objective on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Evercore ISI lowered their price objective on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Finally, Mizuho started coverage on shares of Advance Auto Parts in a research report on Tuesday, March 19th. They set a “neutral” rating and a $78.00 price objective for the company.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $70.24 on Thursday. The firm has a 50 day moving average of $77.77 and a 200-day moving average of $67.33. The stock has a market capitalization of $4.19 billion, a PE ratio of 94.92, a PEG ratio of 1.32 and a beta of 1.20. 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 has a 12 month low of $47.73 and a 12 month high of $118.99.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.83). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. Advance Auto Parts’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 earnings per share. On average, equities research analysts predict that Advance Auto Parts will post 3.94 EPS for the current fiscal year.

Insider Transactions at Advance Auto Parts

In other news, Director Brent Windom acquired 4,700 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was bought at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $853,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Carla Jean Bailo purchased 310 shares of Advance Auto Parts stock in a transaction on Monday, March 18th. The stock was acquired at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the completion of the acquisition, the director now owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brent Windom purchased 4,700 shares of Advance Auto Parts stock in a transaction on Wednesday, March 27th. The stock was bought at an average price of $85.34 per share, with a total value of $401,098.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advance Auto Parts

A number of large investors have recently bought and sold shares of the stock. Kovack Advisors Inc. grew its holdings in Advance Auto Parts by 0.7% in the first quarter. Kovack Advisors Inc. now owns 22,727 shares of the company’s stock worth $1,934,000 after purchasing an additional 150 shares during the period. CWA Asset Management Group LLC grew its holdings in shares of Advance Auto Parts by 4.1% during the third quarter. CWA Asset Management Group LLC now owns 4,911 shares of the company’s stock valued at $275,000 after buying an additional 195 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Advance Auto Parts by 28.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 895 shares of the company’s stock valued at $76,000 after buying an additional 196 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Advance Auto Parts by 8.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,711 shares of the company’s stock valued at $165,000 after buying an additional 206 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Advance Auto Parts by 2.9% during the fourth quarter. Diversified Trust Co now owns 7,462 shares of the company’s stock valued at $455,000 after buying an additional 213 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Company Profile

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.