Advance Auto Parts (NYSE:AAP) Trading Down 3.7%

Advance Auto Parts, Inc. (NYSE:AAP)’s stock price dropped 3.7% during mid-day trading on Wednesday . The stock traded as low as $42.05 and last traded at $42.09. Approximately 1,409,539 shares changed hands during trading, a decline of 20% from the average daily volume of 1,766,154 shares. The stock had previously closed at $43.72.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AAP shares. UBS Group raised their price objective on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Truist Financial cut their price target on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. Evercore ISI lowered their price objective on Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating on the stock in a research report on Friday, August 23rd. StockNews.com upgraded Advance Auto Parts from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lowered their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. One analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.62.

Advance Auto Parts Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The company has a fifty day simple moving average of $57.50 and a two-hundred day simple moving average of $67.36. The firm has a market capitalization of $2.37 billion, a PE ratio of 58.64, a PEG ratio of 1.49 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business posted $1.43 EPS. Advance Auto Parts’s revenue was down .1% compared to the same quarter last year. Analysts forecast that Advance Auto Parts, Inc. will post 2.17 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 11th. This represents a $1.00 annualized dividend and a yield of 2.52%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 144.93%.

Institutional Trading of Advance Auto Parts

A number of hedge funds have recently bought and sold shares of the business. Principal Securities Inc. purchased a new position in Advance Auto Parts during the fourth quarter worth about $27,000. Hexagon Capital Partners LLC raised its position in Advance Auto Parts by 267.7% in the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after purchasing an additional 257 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Advance Auto Parts in the 1st quarter valued at $34,000. Mather Group LLC. increased its position in shares of Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after acquiring an additional 596 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Advance Auto Parts in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

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.