Barclays Issues Pessimistic Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP) had its target price reduced by analysts at Barclays from $66.00 to $54.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 18.66% from the company’s previous close.

A number of other analysts have also commented on AAP. The Goldman Sachs Group decreased their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. Evercore ISI boosted their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Roth Mkm restated a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 16th. Finally, DA Davidson reiterated a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $47.93.

Advance Auto Parts Stock Down 1.0 %

NYSE AAP traded down $0.48 on Thursday, hitting $45.51. 1,549,214 shares of the company were exchanged, compared to its average volume of 1,997,943. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.72 billion, a PE ratio of 62.34 and a beta of 1.16. The stock has a fifty day moving average of $42.50 and a 200-day moving average of $47.50.

Advance Auto Parts (NYSE:AAP) last issued 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). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the business earned ($0.82) earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, analysts forecast that Advance Auto Parts will post -0.54 earnings per share for the current year.

Insider Transactions at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its position in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after buying an additional 365 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Advance Auto Parts in the second quarter worth about $41,000. Blue Trust Inc. lifted its holdings in Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after buying an additional 436 shares during the period. KBC Group NV lifted its stake in Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after acquiring an additional 394 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after purchasing an additional 1,047 shares during the period. Institutional investors own 88.75% of the company’s stock.

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.