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November 22, 2022

Stephens Lowers Advance Auto Parts (NYSE:AAP) Price Target to $164.00

Advance Auto Parts (NYSE:AAP – Get Rating) had its target price dropped by Stephens from $196.00 to $164.00 in a report released on Monday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the stock. Stephens’ price objective points to a potential upside of 9.87{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} from the company’s current price.

Several other analysts have also issued reports on the company. The Goldman Sachs Group dropped their price objective on Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup lowered Advance Auto Parts from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $216.00 to $161.00 in a research note on Thursday. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Thursday. Morgan Stanley dropped their price objective on Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company dropped their price objective on Advance Auto Parts from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 16th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.67.

Advance Auto Parts Stock Up 1.2 {49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}

AAP traded up $1.77 on Monday, hitting $149.27. 9,129 shares of the company were exchanged, compared to its average volume of 849,606. Advance Auto Parts has a 12 month low of $145.59 and a 12 month high of $244.55. The company has a market cap of $8.97 billion, a PE ratio of 19.23, a PEG ratio of 0.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.23 and a current ratio of 1.13. The stock’s fifty day moving average is $171.75 and its 200-day moving average is $181.89.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its earnings results on Tuesday, August 23rd. The company reported $3.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.74. Advance Auto Parts had a return on equity of 25.97{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} and a net margin of 4.30{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the company posted $3.40 earnings per share. Equities research analysts predict that Advance Auto Parts will post 12.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Advance Auto Parts

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in Advance Auto Parts by 1.5{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. Janney Montgomery Scott LLC now owns 29,117 shares of the company’s stock worth $5,139,000 after buying an additional 421 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Advance Auto Parts by 47.9{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the first quarter. Mercer Global Advisors Inc. ADV now owns 8,278 shares of the company’s stock worth $1,713,000 after buying an additional 2,682 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Advance Auto Parts by 1.8{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the first quarter. PNC Financial Services Group Inc. now owns 10,659 shares of the company’s stock worth $2,206,000 after purchasing an additional 192 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its stake in Advance Auto Parts by 53.3{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. Vestmark Advisory Solutions Inc. now owns 8,461 shares of the company’s stock worth $1,465,000 after purchasing an additional 2,941 shares during the last quarter. Finally, Central Bank & Trust Co. lifted its stake in Advance Auto Parts by 61.6{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. Central Bank & Trust Co. now owns 223 shares of the company’s stock worth $39,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 99.47{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} of the company’s stock.

About Advance Auto Parts

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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.

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November 15, 2022

Advance Auto Parts, Inc. (NYSE:AAP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) have been given a consensus rating of “Moderate Buy” by the nineteen analysts that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $235.00.

Several research firms have commented on AAP. Truist Financial decreased their price target on shares of Advance Auto Parts from $238.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, August 25th. UBS Group cut their price objective on shares of Advance Auto Parts from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 24th. Morgan Stanley cut their price objective on shares of Advance Auto Parts from $225.00 to $205.00 and set an “equal weight” rating on the stock in a report on Thursday, August 25th. Raymond James cut their price objective on shares of Advance Auto Parts from $220.00 to $210.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 20th. Finally, Royal Bank of Canada cut their price objective on shares of Advance Auto Parts from $217.00 to $199.00 in a report on Thursday, August 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Advance Auto Parts by 3.9{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the 1st quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after acquiring an additional 261,715 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Advance Auto Parts by 3.6{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the 1st quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock worth $685,801,000 after acquiring an additional 114,789 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Advance Auto Parts by 22.4{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the 2nd quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock worth $456,297,000 after acquiring an additional 482,858 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Advance Auto Parts by 16.1{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the 1st quarter. American Century Companies Inc. now owns 1,676,374 shares of the company’s stock worth $346,943,000 after acquiring an additional 232,904 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Advance Auto Parts by 1.2{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the 1st quarter. Champlain Investment Partners LLC now owns 1,642,607 shares of the company’s stock worth $339,954,000 after acquiring an additional 19,604 shares during the last quarter. Hedge funds and other institutional investors own 99.47{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} of the company’s stock.

Advance Auto Parts Stock Up 1.6 {49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}

Shares of AAP opened at $186.39 on Friday. The firm has a market capitalization of $11.21 billion, a P/E ratio of 21.62, a P/E/G ratio of 1.08 and a beta of 1.27. Advance Auto Parts has a 12-month low of $154.46 and a 12-month high of $244.55. The company has a current ratio of 1.16, a quick ratio of 0.25 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average price of $173.04 and a 200-day moving average price of $183.57.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $3.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.74. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.75 billion. Advance Auto Parts had a net margin of 4.84{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} and a return on equity of 25.99{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}. During the same period in the prior year, the firm earned $3.40 earnings per share. Equities research analysts expect that Advance Auto Parts will post 12.98 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $1.50 dividend. The ex-dividend date was Thursday, September 15th. This represents a $6.00 dividend on an annualized basis and a yield of 3.22{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}. Advance Auto Parts’s payout ratio is currently 69.61{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}.

Advance Auto Parts Company Profile

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Advance Auto Parts Q3 Preview: What’s in Store?

The Zacks Retail and Wholesale sector has sailed via tough waters in 2022 struggling with substantial inflation, down additional than 30{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} and lagging behind the S&P 500 by a reasonable margin.

A widely-recognized name in the realm, Progress Vehicle Elements AAP, is on deck to unveil quarterly earnings on November 15^th, following the current market close.

Advance Auto Elements largely sells substitution elements (excluding tires), extras, batteries, and maintenance goods for domestic and imported vehicles, vans, activity utility vehicles, and mild and significant-duty vans.

Presently, the automotive giant carries a Zacks Rank #3 (Hold) paired with an overall VGM Score of an A.

How does anything else stack up heading into the print? Let us take a closer search.

Share Effectiveness & Valuation

AAP shares have struggled to obtain their footing in 2022, down around 25{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} but outperforming the Zacks Retail and Wholesale sector modestly.

Zacks Investment Research — Zacks Expense Study

Graphic Supply: Zacks Investment decision Investigate

Above the final 3 months, the tale has remained the similar AAP shares have outperformed the Zacks Retail and Wholesale sector, down around 10{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}.

Impression Resource: Zacks Investment decision Study

Now, shares trade at a 13.5X ahead P/E ratio, nicely beneath its 18.8X five-calendar year median and reflecting a strong 41{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} discounted relative to its Zacks sector.

More, Advance Vehicle Elements sports activities a Model Rating of an A for Value.

Picture Source: Zacks Expenditure Analysis

Quarterly Estimates

A singular analyst has reduced their earnings outlook for the quarter to be reported around the past several months, with the Zacks Consensus EPS Estimate of $3.31 suggesting a Y/Y uptick in earnings of a lot more than 3{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}.

Image Supply: Zacks Investment Analysis

The company’s prime-line appears to be in sound standing as properly the Zacks Consensus Revenue Estimate of $2.7 billion signifies an advancement of a marginal 1.2{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} Y/Y.

Quarterly Overall performance

AAP has largely exceeded earnings estimates, surpassing the Zacks Consensus EPS Estimate in 7 of its final 10 quarters. In its hottest print, the organization described earnings in-line with anticipations.

As of late, gross sales outcomes have still left some to be desired, with the company falling quick of earnings estimates in again-to-back again quarters. Below is a chart illustrating the company’s revenue on a quarterly foundation.

Image Source: Zacks Financial investment Study

Placing Every little thing With each other

AAP shares are in the pink calendar year-to-date but have outperformed the Zacks Retail and Wholesale sector across numerous timeframes.

Shares are not high-priced, with the company’s forward earnings numerous very well down below the 5-12 months median and Zacks sector regular.

A singular analyst has lowered their earnings outlook above the last a number of months, with estimates indicating a Y/Y uptick in both of those revenue and earnings.

The corporation posted earnings in-line with anticipations in its most recent print and has fallen brief of profits estimates in again-to-back quarters.

Heading into the release, Progress Automobile Areas AAP carries a Zacks Rank #3 (Keep) paired with an all round VGM Score of an A.

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