Advance Auto Parts Inc [AAP] stock is trading at $69.66, up 0.58%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The AAP shares have gain 15.45% over the last week, with a monthly amount glided 0.61%, and seem to be holding up well over a long-time horizon.
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On 28, February 2024, Advance Auto Parts Reports Fourth Quarter and Full Year 2023 Results. In a post published today on Yahoo Finance, Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America, that serves both professional installer and do-it-yourself customers, announced its financial results for the fourth quarter and full year ended December 30, 2023.
From an analyst’s perspective:
Previously, BofA Securities downgraded its rating to Underperform on November 16, 2023, and dropped its price target to $43. On October 10, 2023, TD Cowen initiated with a Market Perform rating and assigned a price target of $55 on the stock. Atlantic Equities downgraded its rating to a Underweight and decreased its price target to $50 on July 10, 2023. Northcoast initiated its recommendation with a Neutral. Raymond James downgraded its rating to Mkt Perform for this stock on June 01, 2023. In a note dated June 01, 2023, JP Morgan downgraded an Neutral rating on this stock and revised its target price from $165 to $84.
Advance Auto Parts Inc [AAP] stock has fluctuated between $47.73 and $140.26 over the past year. Currently, Wall Street analysts expect the stock to reach $211.75 within the next 12 months. Advance Auto Parts Inc [NYSE: AAP] shares were valued at $69.66 at the most recent close of the market. An investor can expect a potential return of 203.98% based on the average AAP price forecast.
Analyzing the AAP fundamentals
Advance Auto Parts Inc [NYSE:AAP] reported sales of 11.29B for the trailing twelve months, which represents a drop of -0.36%. Gross Profit Margin for this corporation currently stands at 0.42% with Operating Profit Margin at 0.03%, Pretax Profit Margin comes in at 0.02%, and Net Profit Margin reading is 0.02%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.07 and Total Capital is 0.04. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.51.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 68.53 points at the first support level, and at 67.41 for the second support level. However, for the 1st resistance point, the stock is sitting at 70.36, and for the 2nd resistance point, it is at 71.07.
Advance Auto Parts Inc [AAP] reported earnings per share of -$0.59 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.22/share, meaning a difference of -$0.81 and a surprise factor of -368.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.82 per share as compared to estimates of $1.45 per share, a difference of -$2.27 representing a surprise of -156.60%.
Ratios To Look Out For
For context, Advance Auto Parts Inc’s Current Ratio is 1.20. Also, the Quick Ratio is 0.29, while the Cash Ratio stands at 0.06. Considering the valuation of this stock, the price to sales ratio is 0.37, the price to book ratio is 1.57 and price to earnings (TTM) ratio is 94.08.
Transactions by insiders
Recent insider trading involved Soler Kristen L, EVP, Chief HR Officer, that happened on Dec 08 when 500.0 shares were purchased. EVP, Chief HR Officer, Soler Kristen L completed a deal on Dec 05 to buy 1000.0 shares. Meanwhile, Director LEE EUGENE I JR bought 8670.0 shares on Sep 13.
