Evercore ISI Trims Advance Auto Parts (NYSE:AAP) Target Price to $70.00

Advance Auto Parts (NYSE:AAP) had its target price reduced by Evercore ISI from $73.00 to $70.00 in a research report report published on Tuesday, Benzinga reports. They currently have an in-line rating on the stock.

Several other equities research analysts have also issued reports on AAP. StockNews.com upgraded Advance Auto Parts from a sell rating to a hold rating in a report on Thursday, May 30th. Royal Bank of Canada reduced their price target on Advance Auto Parts from $68.00 to $65.00 and set a sector perform rating for the company in a report on Thursday, May 30th. Mizuho reduced their price target on Advance Auto Parts from $78.00 to $64.00 and set a neutral rating for the company in a report on Monday, June 10th. UBS Group lifted their price target on Advance Auto Parts from $68.00 to $72.00 and gave the company a neutral rating in a report on Tuesday, May 28th. Finally, Truist Financial reduced their price target on Advance Auto Parts from $70.00 to $63.00 and set a hold rating for the company in a report on Thursday, May 30th. Two analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $63.80.

Advance Auto Parts Trading Down 1.2 %

Shares of AAP opened at $59.86 on Tuesday. The business’s 50-day moving average price is $68.34 and its 200 day moving average price is $69.29. The stock has a market capitalization of $3.57 billion, a P/E ratio of 86.75, a P/E/G ratio of 1.16 and a beta of 1.20. Advance Auto Parts has a 1-year low of $47.73 and a 1-year high of $88.56. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 0.70.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. Analysts expect that Advance Auto Parts will post 3.72 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, July 12th. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

Institutional Trading of Advance Auto Parts

Large investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew 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 acquiring an additional 257 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Advance Auto Parts in the first quarter worth $34,000. Allworth Financial LP boosted its stake in Advance Auto Parts by 190.0% in the fourth quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares in the last quarter. Principal Securities Inc. acquired a new position in Advance Auto Parts in the fourth quarter worth $27,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Advance Auto Parts in the first quarter worth $43,000. 88.75% of the stock is currently 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.