DA Davidson Reaffirms Neutral Rating for Advance Auto Parts (NYSE:AAP)

Advance Auto Parts (NYSE:AAP)‘s stock had its “neutral” rating reaffirmed by equities researchers at DA Davidson in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $47.00 price objective on the stock. DA Davidson’s price target would suggest a potential downside of 18.04% from the company’s previous close.

Several other equities analysts also recently commented on the company. Morgan Stanley set a $60.00 price objective on Advance Auto Parts in a research note on Tuesday. BMO Capital Markets upped their price target on Advance Auto Parts from $55.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price objective on Advance Auto Parts from $44.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, TD Cowen reiterated a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday. Three analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.93.

Advance Auto Parts Stock Performance

AAP traded down $1.51 during trading on Tuesday, hitting $57.35. 550,554 shares of the company traded hands, compared to its average volume of 2,099,009. Advance Auto Parts has a one year low of $28.89 and a one year high of $70.00. The stock’s fifty day moving average is $46.01 and its 200 day moving average is $52.35. The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 1.55. The firm has a market cap of $3.44 billion, a P/E ratio of 78.48 and a beta of 1.14.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Friday, February 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.41 by $0.45. Advance Auto Parts had a net margin of 0.51% and a return on equity of 6.23%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the firm posted ($10.16) earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. As a group, equities analysts predict that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Advance Auto Parts

A number of large investors have recently modified their holdings of the company. Salomon & Ludwin LLC bought a new stake in Advance Auto Parts during the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Advance Auto Parts during the 3rd quarter valued at $31,000. AlphaCore Capital LLC increased its holdings in shares of Advance Auto Parts by 6,288.9% in the third quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock worth $35,000 after purchasing an additional 566 shares during the period. Hantz Financial Services Inc. raised its position in shares of Advance Auto Parts by 184.5% in the fourth quarter. Hantz Financial Services Inc. now owns 919 shares of the company’s stock worth $36,000 after buying an additional 596 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Advance Auto Parts by 290.3% in the second quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock worth $43,000 after buying an additional 688 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

About Advance Auto Parts

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.