Advance Auto Parts (NYSE:AAP) Stock Rating Upgraded by Northcoast Research

Advance Auto Parts (NYSE:AAP) was upgraded by investment analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $55.00 target price on the stock. Northcoast Research’s target price points to a potential upside of 33.02% from the company’s current price.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Advance Auto Parts from $44.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Evercore ISI reduced their price objective on shares of Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating for the company in a research note on Tuesday, December 16th. Morgan Stanley cut their price objective on shares of Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. Finally, TD Cowen dropped their price objective on shares of Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $50.08.

Advance Auto Parts Trading Down 4.3%

Shares of AAP opened at $41.35 on Wednesday. The firm has a fifty day simple moving average of $45.65 and a two-hundred day simple moving average of $53.38. The stock has a market capitalization of $2.48 billion, a P/E ratio of -6.57 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.73 and a debt-to-equity ratio of 1.55. Advance Auto Parts has a twelve month low of $28.89 and a twelve month high of $70.00.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. Advance Auto Parts had a negative net margin of 4.37% and a positive return on equity of 0.64%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the firm earned ($0.04) earnings per share. Advance Auto Parts’s revenue was down 5.2% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. On average, research analysts anticipate that Advance Auto Parts will post -0.46 EPS for the current year.

Insiders Place Their Bets

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the completion of the sale, the executive vice president directly owned 23,165 shares in the company, valued at approximately $1,181,415. The trade was a 24.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of Advance Auto Parts

A number of hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its stake in Advance Auto Parts by 559.0% in the third quarter. American Century Companies Inc. now owns 1,519,591 shares of the company’s stock valued at $93,303,000 after buying an additional 1,288,986 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Advance Auto Parts by 75.7% in the second quarter. Federated Hermes Inc. now owns 2,387,325 shares of the company’s stock valued at $110,987,000 after acquiring an additional 1,028,561 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its stake in shares of Advance Auto Parts by 508.2% in the third quarter. Maple Rock Capital Partners Inc. now owns 951,790 shares of the company’s stock valued at $58,440,000 after buying an additional 795,290 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Advance Auto Parts in the 3rd quarter valued at about $33,610,000. Finally, Geode Capital Management LLC grew its holdings in shares of Advance Auto Parts by 48.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock worth $65,867,000 after acquiring an additional 461,761 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Advance Auto Parts

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.