Evercore ISI Cuts Advance Auto Parts (NYSE:AAP) Price Target to $56.00

Advance Auto Parts (NYSE:AAP) had its price target decreased by Evercore ISI from $58.00 to $56.00 in a research report released on Tuesday, Marketbeat Ratings reports. Evercore ISI currently has an in-line rating on the stock.

A number of other research firms have also commented on AAP. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Friday, October 31st. Cfra Research raised shares of Advance Auto Parts to a “hold” rating in a research report on Thursday, October 30th. Mizuho boosted their price target on shares of Advance Auto Parts from $44.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Truist Financial increased their price objective on shares of Advance Auto Parts from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley dropped their target price on shares of Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, twenty have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Advance Auto Parts presently has a consensus rating of “Reduce” and an average price target of $51.13.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $41.36 on Tuesday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -6.57 and a beta of 1.13. The company has a current ratio of 1.73, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. The business’s 50-day moving average price is $50.69 and its 200-day moving average price is $54.70. Advance Auto Parts has a 12 month low of $28.89 and a 12 month high of $70.00.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Advance Auto Parts had a negative net margin of 4.37% and a positive return on equity of 0.64%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts forecast that Advance Auto Parts will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, January 9th. Advance Auto Parts’s dividend payout ratio is -15.90%.

Insider Buying and Selling

In other news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the transaction, the executive vice president directly owned 23,165 shares of the company’s stock, valued at $1,181,415. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its stake in Advance Auto Parts by 1.1% during the 3rd quarter. Amalgamated Bank now owns 17,270 shares of the company’s stock valued at $1,060,000 after acquiring an additional 185 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Advance Auto Parts by 3.1% during the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock valued at $293,000 after purchasing an additional 191 shares in the last quarter. Arizona State Retirement System grew its position in Advance Auto Parts by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 17,733 shares of the company’s stock worth $1,089,000 after purchasing an additional 272 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Advance Auto Parts by 2.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 14,535 shares of the company’s stock worth $676,000 after purchasing an additional 283 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Advance Auto Parts by 0.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 54,237 shares of the company’s stock valued at $3,330,000 after buying an additional 297 shares during the last quarter. Institutional investors own 88.70% 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.