Advance Auto Parts, Inc. (NYSE:AAP) Given Average Rating of “Reduce” by Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has been given a consensus recommendation of “Reduce” by the eighteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and sixteen have issued a hold recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $64.56.

Several brokerages have commented on AAP. Evercore ISI decreased their price objective on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Royal Bank of Canada upped their price objective on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Barclays upped their price objective on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Truist Financial upped their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com downgraded shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Monday, May 13th.

Insider Activity at Advance Auto Parts

In other news, Director Carla Jean Bailo acquired 310 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average cost of $81.19 per share, with a total value of $25,168.90. Following the transaction, the director now owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Carla Jean Bailo bought 310 shares of the stock in a transaction on Monday, March 18th. The shares were acquired at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the purchase, the director now owns 5,789 shares of the company’s stock, valued at $470,008.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Brent Windom bought 4,700 shares of the stock in a transaction on Wednesday, March 27th. The shares were bought at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC lifted its stake in shares of Advance Auto Parts by 267.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after purchasing an additional 257 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Advance Auto Parts in the 1st quarter worth approximately $34,000. Allworth Financial LP lifted its stake in shares of Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the period. Principal Securities Inc. bought a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $27,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Advance Auto Parts in the 1st quarter worth approximately $43,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Down 0.7 %

NYSE:AAP opened at $70.24 on Thursday. The company has a fifty day moving average of $77.77 and a 200 day moving average of $67.33. Advance Auto Parts has a 52 week low of $47.73 and a 52 week high of $118.99. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $4.19 billion, a P/E ratio of 94.92, a P/E/G ratio of 1.32 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the company posted $2.88 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts predict that Advance Auto Parts will post 3.94 earnings per share for the current year.

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.