Advance Auto Parts (NYSE:AAP) Upgraded to Hold by Roth Capital

Advance Auto Parts (NYSE:AAP) was upgraded by stock analysts at Roth Capital to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. Roth Capital also issued estimates for Advance Auto Parts’ Q3 2024 earnings at $0.42 EPS, Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.67 EPS and FY2026 earnings at $3.50 EPS.

Several other equities research analysts also recently commented on the stock. Roth Mkm reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a research note on Wednesday. Mizuho reaffirmed a “neutral” rating and set a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Truist Financial decreased their target price 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 decreased their price objective on Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a research report on Friday, August 23rd. Finally, TD Cowen dropped their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $55.36.

Advance Auto Parts Trading Down 2.2 %

AAP opened at $38.60 on Tuesday. The firm has a 50 day simple moving average of $45.67 and a 200 day simple moving average of $60.32. Advance Auto Parts has a fifty-two week low of $36.40 and a fifty-two week high of $88.56. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 55.94, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. On average, sell-side analysts anticipate that Advance Auto Parts will post 2.19 earnings per share for the current year.

Institutional Trading of Advance Auto Parts

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC grew its position in Advance Auto Parts by 25.7% during the first quarter. CWM LLC now owns 1,739 shares of the company’s stock worth $148,000 after buying an additional 356 shares in the last quarter. First Hawaiian Bank boosted its position in Advance Auto Parts by 44.0% during the 1st quarter. First Hawaiian Bank now owns 9,673 shares of the company’s stock worth $823,000 after buying an additional 2,957 shares during the period. Radnor Capital Management LLC bought a new stake in shares of Advance Auto Parts in the 1st quarter valued at $241,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Advance Auto Parts during the first quarter worth $43,000. Finally, Hexagon Capital Partners LLC raised its stake in Advance Auto Parts by 267.7% during the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after buying an additional 257 shares during the last quarter. 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.