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

Advance Auto Parts, Inc. (NYSE:AAP) has received an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $54.08.

Several analysts recently commented on the company. Wells Fargo & Company dropped their target price on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Roth Capital raised Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Truist Financial dropped their price objective on Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Tuesday, October 15th. Finally, Royal Bank of Canada dropped their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a report on Monday.

Advance Auto Parts Trading Up 7.0 %

NYSE:AAP opened at $40.55 on Thursday. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The firm has a fifty day simple moving average of $39.16 and a 200-day simple moving average of $55.07. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $2.42 billion, a P/E ratio of 4,055.00, a PEG ratio of 1.24 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 EPS. On average, equities research analysts anticipate that Advance Auto Parts will post 2.19 earnings per share for the current year.

Hedge Funds Weigh In On Advance Auto Parts

A number of institutional investors have recently added to or reduced their stakes in AAP. Allspring Global Investments Holdings LLC purchased a new position in Advance Auto Parts during the first quarter worth approximately $34,000. Mather Group LLC. increased its stake in Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after acquiring an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Advance Auto Parts during the second quarter worth $41,000. Blue Trust Inc. increased its stake in Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after acquiring an additional 436 shares during the last quarter. Finally, AM Squared Ltd acquired a new stake in Advance Auto Parts during the second quarter worth $63,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

About Advance Auto Parts

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.