Brokerages Set Advance Auto Parts, Inc. (NYSE:AAP) Price Target at $79.53

Shares of Advance Auto Parts, Inc. (NYSE:AAPGet Free Report) have been assigned an average recommendation of “Reduce” from the twenty research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $72.41.

Several brokerages recently commented on AAP. William Blair reissued a “market perform” rating on shares of Advance Auto Parts in a report on Wednesday, December 13th. Bank of America cut Advance Auto Parts from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $60.00 to $43.00 in a report on Thursday, November 16th. Wells Fargo & Company dropped their price target on Advance Auto Parts from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, November 13th. The Goldman Sachs Group dropped their price target on Advance Auto Parts from $83.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. Finally, Wedbush dropped their price target on Advance Auto Parts from $80.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th.

View Our Latest Analysis on Advance Auto Parts

Insider Buying and Selling

In other Advance Auto Parts news, EVP Kristen L. Soler acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average cost of $55.60 per share, for a total transaction of $27,800.00. Following the completion of the acquisition, the executive vice president now owns 12,697 shares of the company’s stock, valued at approximately $705,953.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Advance Auto Parts news, EVP Kristen L. Soler purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was purchased at an average price of $52.87 per share, with a total value of $52,870.00. Following the completion of the transaction, the executive vice president now directly owns 12,197 shares of the company’s stock, valued at approximately $644,855.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kristen L. Soler acquired 500 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were purchased at an average cost of $55.60 per share, for a total transaction of $27,800.00. Following the completion of the purchase, the executive vice president now directly owns 12,697 shares of the company’s stock, valued at approximately $705,953.20. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Advance Auto Parts

Large investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. grew its stake in shares of Advance Auto Parts by 2,226.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,026,668 shares of the company’s stock valued at $113,352,000 after purchasing an additional 1,939,560 shares during the last quarter. Pzena Investment Management LLC bought a new stake in shares of Advance Auto Parts during the third quarter valued at approximately $73,882,000. Federated Hermes Inc. grew its stake in shares of Advance Auto Parts by 2,716,800.0% during the fourth quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock valued at $51,402,000 after purchasing an additional 842,208 shares during the last quarter. State Street Corp grew its stake in shares of Advance Auto Parts by 28.2% during the first quarter. State Street Corp now owns 3,431,787 shares of the company’s stock valued at $417,340,000 after purchasing an additional 754,027 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $97,170,000. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $66.05 on Tuesday. Advance Auto Parts has a 12 month low of $47.73 and a 12 month high of $153.14. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.20 and a beta of 1.15. The stock’s 50 day moving average price is $62.26 and its 200 day moving average price is $60.28. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.23 and a quick ratio of 0.27.

Advance Auto Parts (NYSE:AAPGet Free Report) last announced its earnings results on Wednesday, November 15th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of $1.44 by ($2.26). Advance Auto Parts had a return on equity of 9.40% and a net margin of 1.65%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the firm earned $2.84 EPS. Advance Auto Parts’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Advance Auto Parts will post 1.48 earnings per share for the current fiscal year.

Advance Auto Parts Company Profile

(Get Free Report

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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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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