Truist Financial Cuts Advance Auto Parts (NYSE:AAP) Price Target to $34.00

Advance Auto Parts (NYSE:AAP) had its price objective lowered by Truist Financial from $39.00 to $34.00 in a research report report published on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. DA Davidson restated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Royal Bank of Canada lowered their price objective on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company raised their price objective on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. BMO Capital Markets started coverage on shares of Advance Auto Parts in a research report on Friday, December 13th. They issued a “market perform” rating and a $45.00 price objective for the company. Finally, Evercore ISI raised their price objective on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.69.

Advance Auto Parts Trading Down 0.2 %

AAP opened at $36.90 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.20 billion, a PE ratio of 50.55, a PEG ratio of 1.98 and a beta of 1.15. Advance Auto Parts has a 1-year low of $35.59 and a 1-year high of $88.56. The firm has a 50-day moving average price of $45.88 and a two-hundred day moving average price of $43.74.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s payout ratio is 136.99%.

Insider Buying and Selling

In related news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after buying an additional 365 shares in the last quarter. Allworth Financial LP lifted its stake in Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after buying an additional 818 shares in the last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts in the fourth quarter valued at approximately $42,000. Advisory Services Network LLC bought a new position in Advance Auto Parts in the fourth quarter valued at approximately $46,000. Finally, Blue Trust Inc. lifted its stake in Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after buying an additional 436 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

About Advance Auto Parts

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.