Analysts Set Advance Auto Parts, Inc. (NYSE:AAP) PT at $50.08

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned a consensus rating of “Hold” from the twenty-four brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $50.6995.

AAP has been the subject of a number of recent analyst reports. Roth Mkm reaffirmed a “neutral” rating and set a $55.00 price target (up previously from $50.00) on shares of Advance Auto Parts in a research report on Monday, October 27th. TD Cowen decreased their target price on Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Evercore ISI cut their price target on shares of Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating on the stock in a report on Tuesday, December 16th. BMO Capital Markets restated a “market perform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a report on Friday, October 31st. Finally, Morgan Stanley dropped their target price on shares of Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th.

Advance Auto Parts Price Performance

AAP stock opened at $54.57 on Friday. The company has a current ratio of 1.73, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. The firm’s 50-day moving average price is $45.27 and its two-hundred day moving average price is $52.55. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -8.68 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.

Insiders Place Their Bets

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of Advance Auto Parts stock in a transaction that occurred on 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 approximately $1,181,415. The trade was a 24.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Advance Auto Parts by 559.0% in the 3rd quarter. American Century Companies Inc. now owns 1,519,591 shares of the company’s stock worth $93,303,000 after purchasing an additional 1,288,986 shares during the last quarter. Federated Hermes Inc. raised its holdings in Advance Auto Parts by 75.7% in the second quarter. Federated Hermes Inc. now owns 2,387,325 shares of the company’s stock worth $110,987,000 after buying an additional 1,028,561 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its stake in shares of Advance Auto Parts by 508.2% in the third quarter. Maple Rock Capital Partners Inc. now owns 951,790 shares of the company’s stock worth $58,440,000 after buying an additional 795,290 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Advance Auto Parts during the third quarter valued at approximately $33,610,000. Finally, Geode Capital Management LLC increased its position in shares of Advance Auto Parts by 48.4% during the second quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock valued at $65,867,000 after acquiring an additional 461,761 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.