Advance Auto Parts (NYSE:AAP) Price Target Raised to $57.00 at Truist Financial

Advance Auto Parts (NYSE:AAP) had its price target upped by analysts at Truist Financial from $48.00 to $57.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential downside of 3.19% from the stock’s previous close.

A number of other research firms have also recently weighed in on AAP. Citigroup raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Wednesday, January 21st. BMO Capital Markets restated a “market perform” rating and set a $60.00 target price on shares of Advance Auto Parts in a research report on Tuesday. Wells Fargo & Company increased their target price on shares of Advance Auto Parts from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, February 11th. Cfra raised Advance Auto Parts to a “hold” rating in a research note on Thursday, October 30th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $55.00 price objective (up from $50.00) on shares of Advance Auto Parts in a research note on Monday, October 27th. Three investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $52.18.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $58.88 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The stock has a 50 day simple moving average of $46.01 and a 200-day simple moving average of $52.35. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 80.66 and a beta of 1.14. Advance Auto Parts has a 12-month low of $28.89 and a 12-month high of $70.00.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Friday, February 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.45. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.95 billion. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.Advance Auto Parts’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($10.16) earnings per share. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. On average, equities analysts forecast that Advance Auto Parts will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Advance Auto Parts

Several institutional investors and hedge funds have recently modified their holdings of the company. Medina Value Partners LLC bought a new stake in shares of Advance Auto Parts in the 4th quarter worth about $12,052,000. Landscape Capital Management L.L.C. acquired a new position in shares of Advance Auto Parts during the 4th quarter valued at $599,000. Barclays PLC increased its holdings in shares of Advance Auto Parts by 55.5% in the fourth quarter. Barclays PLC now owns 147,092 shares of the company’s stock valued at $5,781,000 after buying an additional 52,503 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Advance Auto Parts during the 4th quarter valued at $229,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Advance Auto Parts during the 4th quarter valued at $107,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Company Profile

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.