Advance Auto Parts (NYSE:AAP) Price Target Raised to $45.00

Advance Auto Parts (NYSE:AAP) had its price target upped by Wells Fargo & Company from $40.00 to $45.00 in a report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

AAP has been the topic of several other reports. Truist Financial lowered their price target on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a report on Friday, November 15th. UBS Group increased their price target on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Evercore ISI increased their price target on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Roth Capital raised Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Finally, Roth Mkm reissued a “neutral” rating and set a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $48.73.

Advance Auto Parts Stock Performance

Shares of AAP opened at $45.51 on Monday. The business’s fifty day simple moving average is $42.50 and its two-hundred day simple moving average is $47.50. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 62.34 and a beta of 1.16.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the business posted ($0.82) earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts anticipate that Advance Auto Parts will post -0.54 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. Advance Auto Parts’s dividend payout ratio is presently 136.99%.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the sale, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Hawaiian Bank raised its holdings in Advance Auto Parts by 14.4% during the fourth quarter. First Hawaiian Bank now owns 19,692 shares of the company’s stock valued at $931,000 after acquiring an additional 2,474 shares during the period. GAMMA Investing LLC increased its holdings in shares of Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after purchasing an additional 1,047 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after purchasing an additional 365 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Advance Auto Parts in the third quarter worth about $1,117,000. Finally, Savoie Capital LLC increased its holdings in shares of Advance Auto Parts by 117.2% in the third quarter. Savoie Capital LLC now owns 69,500 shares of the company’s stock worth $2,710,000 after purchasing an additional 37,500 shares during the last quarter. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Company Profile

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.