BMO Capital Markets Cuts Advance Auto Parts (NYSE:AAP) Price Target to $40.00

Advance Auto Parts (NYSE:AAP) had its target price cut by BMO Capital Markets from $45.00 to $40.00 in a research report released on Thursday,Benzinga reports. They currently have a market perform rating on the stock.

AAP has been the topic of a number of other research reports. Truist Financial cut their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday. UBS Group boosted their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. Wells Fargo & Company upped their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Barclays cut their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.69.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $36.90 on Thursday. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. 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 firm has a market capitalization of $2.20 billion, a P/E ratio of 50.55, a P/E/G ratio of 1.98 and a beta of 1.15. The company’s fifty day moving average price is $45.88 and its two-hundred day moving average price is $43.74.

Advance Auto Parts Dividend Announcement

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

Insider Activity at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction dated 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 owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AAP. Versant Capital Management Inc grew its position in Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after purchasing an additional 365 shares during the last quarter. Allworth Financial LP grew its position in Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after purchasing an additional 818 shares during the last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts in the 4th quarter worth about $42,000. Advisory Services Network LLC bought a new position in Advance Auto Parts in the 4th quarter worth about $46,000. Finally, Blue Trust Inc. grew its position in Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares during the last quarter. Institutional investors own 88.75% of the company’s stock.

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.