Advance Auto Parts (NYSE:AAP) Stock Passes Above 200 Day Moving Average – Here’s Why

Advance Auto Parts, Inc. (NYSE:AAP)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $51.80 and traded as high as $59.44. Advance Auto Parts shares last traded at $59.1380, with a volume of 1,301,617 shares changing hands.

Wall Street Analyst Weigh In

AAP has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Advance Auto Parts from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Mizuho increased their target price on shares of Advance Auto Parts from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group raised their target price on shares of Advance Auto Parts from $49.00 to $54.00 and gave the stock a “sell” rating in a report on Friday, May 22nd. Truist Financial lifted their price target on shares of Advance Auto Parts from $55.00 to $62.00 and gave the stock a “hold” rating in a research note on Thursday, May 21st. Finally, Citigroup upped their price target on shares of Advance Auto Parts from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and a consensus price target of $58.66.

Advance Auto Parts Stock Performance

The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 1.54. The business has a 50 day simple moving average of $56.98 and a two-hundred day simple moving average of $51.87. The firm has a market cap of $3.75 billion, a PE ratio of 86.35, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, May 21st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.38. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.05 billion. Advance Auto Parts had a net margin of 0.51% and a return on equity of 8.95%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.100 EPS. As a group, equities research analysts forecast that Advance Auto Parts, Inc. will post 2.94 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, July 10th. Advance Auto Parts’s payout ratio is 138.89%.

Hedge Funds Weigh In On Advance Auto Parts

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Advance Auto Parts by 18.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,474,546 shares of the company’s stock valued at $293,751,000 after purchasing an additional 1,190,094 shares during the period. Pzena Investment Management LLC increased its holdings in Advance Auto Parts by 8.2% during the 1st quarter. Pzena Investment Management LLC now owns 4,301,089 shares of the company’s stock worth $226,882,000 after purchasing an additional 327,596 shares during the period. Federated Hermes Inc. increased its holdings in Advance Auto Parts by 4.4% during the 4th quarter. Federated Hermes Inc. now owns 2,811,675 shares of the company’s stock worth $110,499,000 after purchasing an additional 117,648 shares during the period. State Street Corp raised its position in Advance Auto Parts by 3.9% during the 4th quarter. State Street Corp now owns 2,499,981 shares of the company’s stock valued at $98,249,000 after purchasing an additional 92,861 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Advance Auto Parts by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,127,948 shares of the company’s stock valued at $112,243,000 after purchasing an additional 282,591 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Company Profile

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.