Advance Auto Parts (NYSE:AAP) Price Target Cut to $57.00 by Analysts at Royal Bank Of Canada

Advance Auto Parts (NYSE:AAP) had its price objective decreased by equities researchers at Royal Bank Of Canada from $60.00 to $57.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 11.44% from the company’s previous close.

AAP has been the subject of a number of other reports. Cfra Research raised shares of Advance Auto Parts to a “hold” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on Advance Auto Parts from $44.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, January 21st. Citigroup raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Wednesday, January 21st. Finally, Evercore ISI cut their target price on Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 16th. Three analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and an average price target of $50.70.

Advance Auto Parts Stock Up 5.0%

Shares of Advance Auto Parts stock opened at $51.15 on Wednesday. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -8.13 and a beta of 1.14. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.73. Advance Auto Parts has a 52-week low of $28.89 and a 52-week high of $70.00. The company’s 50 day moving average price is $45.21 and its 200-day moving average price is $52.54.

Insider Buying and Selling

In related news, EVP Kristen L. Soler sold 7,662 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the sale, the executive vice president directly owned 23,165 shares of the company’s stock, valued at $1,181,415. This trade represents a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAP. Crossmark Global Holdings Inc. grew its holdings in Advance Auto Parts by 24.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 8,046 shares of the company’s stock valued at $316,000 after purchasing an additional 1,555 shares during the period. Tweedy Browne Co LLC grew its position in shares of Advance Auto Parts by 16.6% in the fourth quarter. Tweedy Browne Co LLC now owns 15,179 shares of the company’s stock valued at $597,000 after purchasing an additional 2,160 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Advance Auto Parts by 32.8% during the 4th quarter. Wolverine Asset Management LLC now owns 36,317 shares of the company’s stock worth $1,427,000 after acquiring an additional 8,960 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in Advance Auto Parts during the fourth quarter worth about $825,000. Finally, Strs Ohio raised its position in shares of Advance Auto Parts by 7.1% during the 4th quarter. Strs Ohio now owns 21,200 shares of the company’s stock valued at $833,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

About Advance Auto Parts

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.