Advance Auto Parts (NYSE:AAP) Given New $34.00 Price Target at Truist Financial

Advance Auto Parts (NYSE:AAP) had its target price decreased by Truist Financial from $39.00 to $34.00 in a research note published on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms also recently weighed in on AAP. The Goldman Sachs Group dropped their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, November 15th. UBS Group boosted their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Evercore ISI raised their target price on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. Finally, Barclays dropped their price objective on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.69.

Advance Auto Parts Trading Down 2.0 %

Shares of AAP stock opened at $36.96 on Thursday. Advance Auto Parts has a 1-year low of $35.59 and a 1-year high of $88.56. The firm has a market cap of $2.21 billion, a PE ratio of 50.62, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. The company has a 50-day moving average of $46.11 and a two-hundred day moving average of $43.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.71%. Advance Auto Parts’s payout ratio is currently 136.99%.

Insider Activity

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following 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 SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc increased its stake in Advance Auto Parts by 3.9% in the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock valued at $277,000 after purchasing an additional 221 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Advance Auto Parts by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock valued at $1,242,000 after purchasing an additional 281 shares during the last quarter. Ingalls & Snyder LLC increased its position in shares of Advance Auto Parts by 5.0% in the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock valued at $316,000 after buying an additional 317 shares in the last quarter. Studio Investment Management LLC raised its stake in shares of Advance Auto Parts by 6.7% during the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company’s stock worth $263,000 after buying an additional 350 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after buying an additional 365 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

About Advance Auto Parts

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.