DA Davidson Reiterates Neutral Rating for Advance Auto Parts (NYSE:AAP)

DA Davidson reissued their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a report released on Friday morning,Benzinga reports. DA Davidson currently has a $45.00 price objective on the stock.

AAP has been the topic of a number of other research reports. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group dropped their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday. Evercore ISI lowered their price target on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a report on Tuesday, October 22nd. Truist Financial lowered their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday. Finally, UBS Group upped their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and an average target price of $49.14.

Advance Auto Parts Stock Down 8.5 %

Shares of AAP traded down $3.51 during mid-day trading on Friday, reaching $37.69. The company’s stock had a trading volume of 5,899,565 shares, compared to its average volume of 2,053,840. The company’s 50 day moving average is $39.02 and its 200 day moving average is $54.37. The stock has a market cap of $2.25 billion, a PE ratio of 51.62, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. Equities analysts anticipate that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s payout ratio is currently 136.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Advance Auto Parts during the first quarter valued at approximately $34,000. Oppenheimer & Co. Inc. purchased a new position in shares of Advance Auto Parts during the 1st quarter worth $292,000. Sei Investments Co. boosted its holdings in shares of Advance Auto Parts by 0.6% during the first quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock worth $5,055,000 after purchasing an additional 352 shares during the last quarter. US Bancorp DE grew its position in shares of Advance Auto Parts by 10.3% in the first quarter. US Bancorp DE now owns 12,767 shares of the company’s stock valued at $1,086,000 after purchasing an additional 1,197 shares during the period. Finally, Bleakley Financial Group LLC acquired a new position in Advance Auto Parts in the first quarter valued at $207,000. 88.75% of the stock is currently owned by hedge funds and other 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.