Advance Auto Parts, Inc. (NYSE:AAP) Receives $47.93 Consensus Price Target from Analysts

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $47.93.

A number of equities research analysts have recently weighed in on AAP shares. Evercore ISI lifted their target price on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets initiated coverage on shares of Advance Auto Parts in a research report on Friday, December 13th. They set a “market perform” rating and a $45.00 target price on the stock. Truist Financial dropped their price target on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. Finally, Barclays cut their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $49.28 on Tuesday. Advance Auto Parts has a 52 week low of $35.59 and a 52 week high of $88.56. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 67.51, a PEG ratio of 2.13 and a beta of 1.16. The company has a 50-day simple moving average of $44.64 and a 200 day simple moving average of $46.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.82) EPS. On average, sell-side analysts predict that Advance Auto Parts will post -0.5 earnings per share for the current year.

Insider Activity at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Advance Auto Parts

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its position in Advance Auto Parts by 59.2% in the second quarter. American Century Companies Inc. now owns 169,557 shares of the company’s stock valued at $10,738,000 after purchasing an additional 63,031 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Advance Auto Parts by 108.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 92,883 shares of the company’s stock worth $5,882,000 after buying an additional 48,328 shares during the period. Dimensional Fund Advisors LP grew its holdings in Advance Auto Parts by 76.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after acquiring an additional 547,696 shares during the last quarter. Renaissance Technologies LLC increased its position in Advance Auto Parts by 26.9% in the 2nd quarter. Renaissance Technologies LLC now owns 185,450 shares of the company’s stock valued at $11,745,000 after acquiring an additional 39,300 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Advance Auto Parts by 13.1% during the second quarter. Canada Pension Plan Investment Board now owns 27,600 shares of the company’s stock valued at $1,748,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts 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.