Advance Auto Parts, Inc. (NYSE:AAP) Given Average Recommendation of “Hold” by Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has been given an average recommendation of “Hold” by the twenty-four analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $50.0805.

AAP has been the subject of a number of research analyst reports. TD Cowen decreased their target price on Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, January 20th. Northcoast Research upgraded Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 21st. Cfra Research raised Advance Auto Parts to a “hold” rating in a research note on Thursday, October 30th. Citigroup raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Wednesday, January 21st. Finally, Evercore ISI lowered 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 report on Tuesday, December 16th.

Advance Auto Parts Stock Down 0.2%

Shares of NYSE AAP opened at $48.01 on Friday. Advance Auto Parts has a 52-week low of $28.89 and a 52-week high of $70.00. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.73. The stock has a market cap of $2.88 billion, a P/E ratio of -7.63 and a beta of 1.14. The firm has a 50 day moving average price of $45.26 and a 200 day moving average price of $52.83.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.18. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates 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 firm’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) EPS. Analysts expect that Advance Auto Parts will post -0.46 EPS for the current year.

Insider Activity at Advance Auto Parts

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 value of $390,762.00. Following the sale, the executive vice president 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 legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Institutional Trading of Advance Auto Parts

Institutional investors have recently made changes to their positions in the business. REAP Financial Group LLC bought a new position in Advance Auto Parts in the second quarter valued at $26,000. Salomon & Ludwin LLC bought a new stake in Advance Auto Parts during the 3rd quarter worth 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. AlphaCore Capital LLC grew its holdings 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 in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Advance Auto Parts by 290.3% in the second quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock valued at $43,000 after acquiring an additional 688 shares during the last quarter. Institutional investors 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.