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

Advance Auto Parts (NYSE:AAP) was upgraded by research analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $55.00 price target on the stock. Northcoast Research’s target price would indicate a potential upside of 19.93% from the stock’s previous close.

AAP has been the topic of a number of other research reports. Evercore ISI dropped their target price on Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 16th. Citigroup decreased their price objective on shares of Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. UBS Group set a $40.00 price objective on shares of Advance Auto Parts in a report on Thursday, October 30th. Truist Financial set a $48.00 target price on shares of Advance Auto Parts in a report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Advance Auto Parts in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.08.

Advance Auto Parts Trading Up 0.7%

Shares of Advance Auto Parts stock opened at $45.86 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. Advance Auto Parts has a 12-month low of $28.89 and a 12-month high of $70.00. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -7.29 and a beta of 1.14. The firm’s 50 day simple moving average is $45.45 and its two-hundred day simple moving average is $53.27.

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

Insider Buying and Selling at Advance Auto Parts

In related news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $51.00, for a total value of $390,762.00. Following the completion of the transaction, the executive vice president owned 23,165 shares of the company’s stock, valued at approximately $1,181,415. This represents a 24.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advance Auto Parts

Several large investors have recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new position in Advance Auto Parts in the third quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Advance Auto Parts during the 3rd quarter worth about $31,000. REAP Financial Group LLC bought a new stake in shares of Advance Auto Parts in the 2nd quarter valued at about $26,000. AlphaCore Capital LLC raised its position in shares of Advance Auto Parts by 6,288.9% in the 3rd quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock valued at $35,000 after acquiring an additional 566 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Advance Auto Parts by 198.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $46,000 after acquiring an additional 499 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.