Advance Auto Parts (NYSE:AAP) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Advance Auto Parts, Inc. (NYSE:AAP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $50.99 and traded as high as $57.75. Advance Auto Parts shares last traded at $55.8750, with a volume of 1,540,451 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Advance Auto Parts from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. TD Cowen reaffirmed a “hold” rating on shares of Advance Auto Parts in a report on Friday, May 22nd. DA Davidson set a $58.00 price target on Advance Auto Parts in a report on Tuesday, February 17th. Weiss Ratings raised Advance Auto Parts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Finally, Mizuho increased their price target on Advance Auto Parts from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and an average target price of $58.66.

Advance Auto Parts Trading Down 2.2%

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 has a fifty day moving average of $55.23 and a two-hundred day moving average of $50.99. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 77.61, a P/E/G ratio of 0.95 and a beta of 1.05.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, May 21st. The company reported $0.77 earnings per share 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 firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.100 EPS. On average, research analysts expect that Advance Auto Parts, Inc. will post 2.91 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Advance Auto Parts’s dividend payout ratio (DPR) is 138.89%.

Institutional Investors Weigh In On Advance Auto Parts

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Glenmede Trust Co. NA acquired a new stake in Advance Auto Parts in the first quarter valued at $357,000. Bank of America Corp DE lifted its holdings in Advance Auto Parts by 4.5% in the first quarter. Bank of America Corp DE now owns 1,056,281 shares of the company’s stock valued at $55,719,000 after acquiring an additional 45,696 shares during the period. Arkadios Wealth Advisors lifted its holdings in Advance Auto Parts by 3.7% in the first quarter. Arkadios Wealth Advisors now owns 29,002 shares of the company’s stock valued at $1,530,000 after acquiring an additional 1,035 shares during the period. Amundi lifted its holdings in Advance Auto Parts by 37.0% in the first quarter. Amundi now owns 10,887 shares of the company’s stock valued at $574,000 after acquiring an additional 2,943 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in Advance Auto Parts by 23.0% in the first quarter. California State Teachers Retirement System now owns 70,260 shares of the company’s stock valued at $3,706,000 after acquiring an additional 13,145 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.