The Goldman Sachs Group Lowers Advance Auto Parts (NYSE:AAP) Price Target to $43.00

Advance Auto Parts (NYSE:AAP - Get Free Report) had its price objective decreased by investment analysts at The Goldman Sachs Group from $60.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 14.12% from the company's current price.

Several other brokerages have also recently issued reports on AAP. TD Cowen dropped their price target on Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating on the stock in a research report on Friday, August 23rd. Royal Bank of Canada reduced their target price on Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Monday. Truist Financial cut their price target on Advance Auto Parts from $46.00 to $41.00 and set a "hold" rating for the company in a report on Thursday, November 7th. Roth Capital upgraded Advance Auto Parts to a "hold" rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $49.14.

Advance Auto Parts Stock Down 8.5 %

NYSE:AAP traded down $3.52 during midday trading on Friday, reaching $37.68. 5,899,046 shares of the stock traded hands, compared to its average volume of 2,053,840. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The stock has a market capitalization of $2.25 billion, a PE ratio of 3,819.00, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. The business has a 50-day moving average of $39.06 and a two-hundred day moving average of $54.63.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.22). The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. Advance Auto Parts's revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 EPS. On average, equities analysts forecast that Advance Auto Parts will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Diversified Trust Co boosted its stake in Advance Auto Parts by 3.5% during the 2nd quarter. Diversified Trust Co now owns 6,787 shares of the company's stock valued at $430,000 after purchasing an additional 232 shares during the last quarter. OLD National Bancorp IN increased its holdings in shares of Advance Auto Parts by 6.8% in the second quarter. OLD National Bancorp IN now owns 3,697 shares of the company's stock worth $234,000 after purchasing an additional 237 shares during the period. Covestor Ltd increased its holdings in shares of Advance Auto Parts by 8.5% in the first quarter. Covestor Ltd now owns 3,395 shares of the company's stock worth $289,000 after purchasing an additional 266 shares during the period. Sei Investments Co. increased its stake in Advance Auto Parts by 0.5% in the second quarter. Sei Investments Co. now owns 59,679 shares of the company's stock valued at $3,779,000 after acquiring an additional 277 shares during the last quarter. Finally, Qsemble Capital Management LP increased its stake in Advance Auto Parts by 7.6% in the second quarter. Qsemble Capital Management LP now owns 4,036 shares of the company's stock valued at $256,000 after acquiring an additional 285 shares during the last quarter. 88.75% of the stock is owned by institutional investors.

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.