Advance Auto Parts, Inc. (NYSE:AAP) Given Average Recommendation of "Hold" by Analysts

Shares of Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) have received a consensus recommendation of "Hold" from the sixteen brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $47.93.

Several equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Royal Bank of Canada lowered their target price on shares of Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Monday, November 11th. The Goldman Sachs Group dropped their target price on Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. BMO Capital Markets started coverage on shares of Advance Auto Parts in a research note on Friday, December 13th. They issued a "market perform" rating and a $45.00 price target for the company. Finally, Truist Financial dropped their price objective on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating for the company in a research note on Friday, November 15th.

Advance Auto Parts Stock Performance

NYSE AAP traded down $2.87 on Friday, hitting $45.00. 546,203 shares of the stock traded hands, compared to its average volume of 1,605,470. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 61.58, a PEG ratio of 2.23 and a beta of 1.15. The business's fifty day moving average is $46.29 and its two-hundred day moving average is $44.63. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56.

Insiders Place Their Bets

In other news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Advance Auto Parts

Hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of Advance Auto Parts by 36.8% in the third quarter. CWM LLC now owns 2,333 shares of the company's stock valued at $91,000 after purchasing an additional 627 shares during the period. nVerses Capital LLC purchased a new stake in Advance Auto Parts during the third quarter valued at approximately $164,000. Blue Trust Inc. boosted 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 acquiring an additional 436 shares in the last quarter. Raymond James & Associates grew its holdings in Advance Auto Parts by 11.7% in the third quarter. Raymond James & Associates now owns 106,475 shares of the company's stock worth $4,151,000 after purchasing an additional 11,169 shares during the last quarter. Finally, Everence Capital Management Inc. grew its holdings in Advance Auto Parts by 3.7% in the third quarter. Everence Capital Management Inc. now owns 8,330 shares of the company's stock worth $325,000 after purchasing an additional 300 shares during 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.