Barclays Lowers Advance Auto Parts (NYSE:AAP) Price Target to $54.00

Advance Auto Parts (NYSE:AAP) had its target price dropped by Barclays from $66.00 to $54.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 16.56% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Roth Mkm reissued a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday, October 16th. Royal Bank of Canada dropped 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. BMO Capital Markets started coverage on shares of Advance Auto Parts in a report on Friday, December 13th. They set a “market perform” rating and a $45.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. Finally, Truist Financial cut their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $47.93.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $46.33 on Thursday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 63.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The business’s 50 day simple moving average is $42.88 and its 200-day simple moving average is $47.47. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm earned ($0.82) earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Advance Auto Parts will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Advance Auto Parts

A number of large investors have recently bought and sold shares of AAP. Versant Capital Management Inc grew its position in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after acquiring an additional 365 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Advance Auto Parts during the second quarter worth about $41,000. Blue Trust Inc. increased its stake in shares of 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 during the period. KBC Group NV raised its holdings in Advance Auto Parts by 29.1% in the 3rd quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after buying an additional 394 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Advance Auto Parts by 198.3% during the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after buying an additional 1,047 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.