Analysts Set Advance Auto Parts, Inc. (NYSE:AAP) Target Price at $46.25

Advance Auto Parts, Inc. (NYSE:AAPGet Free Report) has been assigned a consensus rating of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $46.25.

A number of analysts recently weighed in on the company. Cowen restated a “hold” rating on shares of Advance Auto Parts in a research report on Friday, May 23rd. Redburn Atlantic upgraded Advance Auto Parts from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $45.00 in a research report on Tuesday, June 3rd. Morgan Stanley boosted their target price on Advance Auto Parts from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. Raymond James Financial boosted their target price on Advance Auto Parts to $49.17 and gave the stock a “hold” rating in a research report on Monday, May 26th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $48.00 target price (up previously from $43.00) on shares of Advance Auto Parts in a research report on Thursday, May 22nd.

Check Out Our Latest Stock Analysis on AAP

Institutional Investors Weigh In On Advance Auto Parts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock worth $28,000 after purchasing an additional 465 shares during the period. Allworth Financial LP grew its stake in Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after purchasing an additional 818 shares during the period. Vision Financial Markets LLC purchased a new stake in shares of Advance Auto Parts in the fourth quarter worth $42,000. Advisory Services Network LLC purchased a new stake in shares of Advance Auto Parts in the fourth quarter worth $46,000. Finally, Financial Management Professionals Inc. bought a new stake in shares of Advance Auto Parts in the first quarter worth approximately $49,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Performance

Shares of AAP opened at $49.41 on Friday. The company has a market cap of $2.96 billion, a PE ratio of -8.42 and a beta of 1.06. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $40.34 and a 200-day moving average price of $41.65. Advance Auto Parts has a 12-month low of $28.89 and a 12-month high of $66.08.

Advance Auto Parts (NYSE:AAPGet Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.59. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. The company’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. As a group, equities analysts forecast that Advance Auto Parts will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.02%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.04%.

Advance Auto Parts Company Profile

(Get Free Report

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.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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