Advance Auto Parts (NYSE:AAP) Price Target Raised to $67.00

Advance Auto Parts (NYSE:AAP) had its price target boosted by Royal Bank Of Canada from $65.00 to $67.00 in a research report report published on Thursday, MarketBeat Ratings reports. They currently have a sector perform rating on the stock.

AAP has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective on shares of Advance Auto Parts from $49.00 to $54.00 and gave the company a “sell” rating in a report on Friday, May 22nd. TD Cowen restated a “hold” rating on shares of Advance Auto Parts in a research note on Friday, May 22nd. Truist Financial increased their price target on Advance Auto Parts from $55.00 to $62.00 and gave the stock a “hold” rating in a report on Thursday, May 21st. Citigroup lowered their price objective on shares of Advance Auto Parts from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Weiss Ratings raised shares of Advance Auto Parts from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.91.

Advance Auto Parts Trading Down 1.4%

AAP stock opened at $56.55 on Thursday. Advance Auto Parts has a 52-week low of $37.89 and a 52-week high of $65.21. The firm has a market cap of $3.41 billion, a P/E ratio of 78.54, a PEG ratio of 0.93 and a beta of 1.03. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 1.54. The company’s 50-day simple moving average is $57.45 and its 200-day simple moving average is $55.26.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, May 21st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.38. Advance Auto Parts had a return on equity of 8.95% and a net margin of 0.51%.The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the firm posted $0.40 EPS. Advance Auto Parts’s revenue was up 1.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.100 EPS. As a group, equities analysts forecast that Advance Auto Parts will post 2.94 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, July 10th. Advance Auto Parts’s dividend payout ratio is 138.89%.

Institutional Trading of Advance Auto Parts

Hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC grew its holdings in Advance Auto Parts by 3.1% during the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock worth $293,000 after acquiring an additional 191 shares during the period. PNC Financial Services Group Inc. raised its position in Advance Auto Parts by 9.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,224 shares of the company’s stock worth $117,000 after acquiring an additional 200 shares in the last quarter. AlphaCore Capital LLC lifted its holdings in Advance Auto Parts by 53.6% in the fourth quarter. AlphaCore Capital LLC now owns 883 shares of the company’s stock valued at $35,000 after acquiring an additional 308 shares during the period. ProShare Advisors LLC lifted its holdings in Advance Auto Parts by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 11,673 shares of the company’s stock valued at $459,000 after acquiring an additional 362 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Advance Auto Parts by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 30,554 shares of the company’s stock worth $1,200,000 after purchasing an additional 371 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

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.