Advance Auto Parts (NYSE:AAP) Given New $44.00 Price Target at Royal Bank of Canada

Advance Auto Parts (NYSE:AAP) had its price target reduced by investment analysts at Royal Bank of Canada from $50.00 to $44.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 14.95% from the company’s previous close.

Several other research analysts also recently weighed in on AAP. Wells Fargo & Company boosted their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group reduced their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Barclays lowered their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. UBS Group increased their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and a consensus target price of $47.13.

Advance Auto Parts Price Performance

NYSE:AAP traded up $0.58 during trading hours on Thursday, reaching $38.28. 1,869,353 shares of the company traded hands, compared to its average volume of 2,014,853. Advance Auto Parts has a 1-year low of $35.59 and a 1-year high of $88.56. The stock has a market cap of $2.29 billion, a P/E ratio of 52.23, a P/E/G ratio of 1.98 and a beta of 1.15. The firm’s 50-day moving average is $46.11 and its 200-day moving average is $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.

Insiders Place Their Bets

In related news, EVP Tammy M. Finley sold 1,276 shares of the business’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 completion of the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Advance Auto Parts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in Advance Auto Parts by 56.7% during 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 last quarter. Raymond James & Associates grew its position in shares of Advance Auto Parts by 11.7% during the third quarter. Raymond James & Associates now owns 106,475 shares of the company’s stock worth $4,151,000 after acquiring an additional 11,169 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Advance Auto Parts by 7.1% in the 3rd quarter. Stephens Inc. AR now owns 27,704 shares of the company’s stock worth $1,080,000 after acquiring an additional 1,828 shares during the period. Easterly Investment Partners LLC lifted its position in Advance Auto Parts by 32.2% in the 3rd quarter. Easterly Investment Partners LLC now owns 43,951 shares of the company’s stock valued at $1,714,000 after purchasing an additional 10,709 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Advance Auto Parts by 45.3% in the third quarter. Crossmark Global Holdings Inc. now owns 9,909 shares of the company’s stock valued at $387,000 after purchasing an additional 3,088 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.