Advance Auto Parts (NYSE:AAP) Price Target Cut to $46.00 by Analysts at TD Cowen

Advance Auto Parts (NYSE:AAP) had its target price reduced by investment analysts at TD Cowen from $62.00 to $46.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 14.27% from the company’s current price.

A number of other research analysts have also commented on the company. Citigroup decreased their price objective on Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. DA Davidson set a $47.00 price target on shares of Advance Auto Parts in a research report on Monday, January 12th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Friday, October 31st. Roth Capital 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. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, twenty have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $49.83.

Advance Auto Parts Price Performance

Advance Auto Parts stock traded down $2.95 during trading hours on Tuesday, hitting $40.26. 806,908 shares of the stock were exchanged, compared to its average volume of 1,809,719. The stock has a market capitalization of $2.42 billion, a P/E ratio of -6.41 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. The business’s 50-day moving average is $45.84 and its two-hundred day moving average is $53.45. 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 (NYSE:AAP) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.18. Advance Auto Parts had a positive return on equity of 0.64% and a negative net margin of 4.37%.The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the company posted ($0.04) EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts expect that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling at Advance Auto Parts

In other 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 value of $390,762.00. Following the completion of the transaction, the executive vice president owned 23,165 shares in the company, valued at $1,181,415. This trade represents a 24.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AAP. Gainplan LLC acquired a new position in Advance Auto Parts in the 2nd quarter valued at $700,000. Pzena Investment Management LLC raised its stake in Advance Auto Parts by 1.9% in the second quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock valued at $204,322,000 after purchasing an additional 82,456 shares in the last quarter. Friedenthal Financial bought a new stake in Advance Auto Parts during the second quarter worth about $869,000. McElhenny Sheffield Capital Management LLC acquired a new stake in Advance Auto Parts during the second quarter worth about $371,000. Finally, Parkwood LLC bought a new position in Advance Auto Parts in the 2nd quarter valued at about $16,922,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.