Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report) rose 5.7% on Tuesday . The stock traded as high as $43.57 and last traded at $43.3670. 662,770 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 1,888,084 shares. The stock had previously closed at $41.01.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on AAP shares. DA Davidson cut their target price on shares of Advance Auto Parts from $58.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, August 21st. UBS Group dropped their price target on Advance Auto Parts from $65.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, August 21st. Royal Bank Of Canada cut their price objective on Advance Auto Parts from $67.00 to $52.00 and set a “sector perform” rating for the company in a report on Friday, August 21st. Roth Capital set a $48.00 price objective on Advance Auto Parts in a report on Friday, August 21st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Advance Auto Parts in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.19.
View Our Latest Research Report on Advance Auto Parts
Advance Auto Parts Stock Down 3.9%
Advance Auto Parts (NYSE:AAP – Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.04 billion. Advance Auto Parts had a net margin of 0.97% and a return on equity of 9.84%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. Research analysts predict that Advance Auto Parts, Inc. will post 2.98 EPS for the current fiscal year.
Advance Auto Parts Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 9th will be issued 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 is Friday, October 9th. Advance Auto Parts’s payout ratio is currently 72.99%.
Institutional Investors Weigh In On Advance Auto Parts
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Advance Auto Parts during the second quarter valued at approximately $581,909,000. Pzena Investment Management LLC purchased a new stake in Advance Auto Parts in the second quarter worth $273,115,000. Maple Rock Capital Partners Inc. boosted its holdings in Advance Auto Parts by 86.5% in the second quarter. Maple Rock Capital Partners Inc. now owns 2,421,040 shares of the company’s stock valued at $150,637,000 after acquiring an additional 1,122,900 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Advance Auto Parts by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,127,948 shares of the company’s stock valued at $112,243,000 after acquiring an additional 282,591 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Advance Auto Parts during the 2nd quarter valued at $59,626,000. 88.70% of the stock is currently owned by institutional investors.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc (NYSE:AAP) is an automotive aftermarket parts provider serving do-it-yourself customers, professional repair shops and commercial customers. The company sells replacement parts, accessories, maintenance items, batteries, engine components, tools and other products used to maintain and repair cars, trucks and other vehicles.
Advance Auto Parts serves customers through a network of retail stores, distribution centers and online channels. Its operations include the Advance Auto Parts and Carquest brands, with products available through company-operated locations, independently operated Carquest stores and commercial delivery programs for professional customers.
The company’s business primarily covers the United States, with additional operations and customer service in Canada and certain U.S.
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