In yesterday’s Wall Street session, Advance Auto Parts Inc. (NYSE:AAP) shares traded at $147.03, up 0.49% from the previous session.
AAP stock price is now -8.58% away from the 50-day moving average and -19.59% away from the 200-day moving average. The market capitalization of the company currently stands at $8.67B.
With the price target reduced from $228 to $147, Truist Downgraded its rating from Buy to Hold for Advance Auto Parts Inc. (NYSE: AAP). , while ‘Citigroup’ rates the stock as ‘Neutral’.
Insiders disposed of 26,615 shares of company stock worth roughly $3.91 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AAP stock. A new stake in Advance Auto Parts Inc. shares was purchased by MARSHALL WACE, LLP during the first quarter worth $14,752,000. KNIGHTSBRIDGE ASSET MANAGEMENT, LLC invested $8,312,000 in shares of AAP during the first quarter. In the first quarter, GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in Advance Auto Parts Inc. valued at approximately $7,945,000. SPX GESTAO DE RECURSOS LTDA acquired a new stake in AAP for approximately $5,575,000. AIGEN INVESTMENT MANAGEMENT, LP purchased a new stake in AAP valued at around $5,093,000 in the second quarter.
On Friday morning Advance Auto Parts Inc. (NYSE: AAP) stock kicked off with the opening price of $145.55. During the past 12 months, Advance Auto Parts Inc. has had a low of $138.52 and a high of $244.55. As of last week, the company has a debt-to-equity ratio of 0.51, a current ratio of 1.10, and a quick ratio of 0.20. The fifty day moving average price for AAP is $160.35 and a two-hundred day moving average price translates $182.54 for the stock.
The latest earnings results from Advance Auto Parts Inc. (NYSE: AAP) was released for Jul, 2022. According to the Specialty Retail Company, earnings per share came in at $3.74, missing analysts’ expectations of $3.76 by -0.02. This compares to $2.68 EPS in the same period last year. The net profit margin was 4.30% and return on equity was 16.50% for AAP. The company reported revenue of $2.64 billion for the quarter, compared to $2.62 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.77 percent. For the current quarter, analysts expect AAP to generate $2.64B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/03/2023. Investors who held shares on 12/16/2022 were paid a $1.50 dividend. On an annualized basis, this represents a $6.00 dividend and a 4.08% percent yield. There was an ex-dividend date of 12/15/2022 for this dividend. In terms of dividend payout ratio, AAP is presently at 51.10%.
Advance Auto Parts Inc.(AAP) 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. It also offers air conditioning chemicals and accessories; air fresheners; antifreeze and washer fluids; electrical wires and fuses; electronics; floor mats, seat covers, and interior accessories; hand and specialty tools; lighting products; performance parts; sealants, adhesives and compounds; tire repair accessories; vent shades, mirrors and exterior accessories; washes, waxes and cleaning supplies; and wiper blades. In addition, the company offers air filters; fuel and oil additives; fuel filters; grease and lubricants; motor oils; oil filters, part cleaners and treatments; and transmission fluids for engine maintenance. Further, it offers battery and wiper installation; engine light scanning and checking; electrical system testing; video clinic; oil and battery recycling; and loaner tool program services. Additionally, the company sells its products through its website. It serves professional installers and do-it-yourself customers. The company operates stores under the Advance Auto Parts, Autopart International, and Carquest brands, as well as branches under the Worldpac name. As of April 23, 2022, it operated 4,687 stores and 311 branches in the United States, Puerto Rico, the U.S. Virgin Islands, and Canada; and served 1,318 independently owned Carquest branded stores in Mexico, Grand Cayman, the Bahamas, Turks and Caicos, and the British Virgin Islands. The company was founded in 1929 and is based in Raleigh, North Carolina.