Advance Auto Parts (NYSE:AAP) Price Target Cut to $40.00 by Analysts at Citigroup

Advance Auto Parts (NYSE:AAP - Get Free Report) had its target price decreased by research analysts at Citigroup from $47.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's target price points to a potential upside of 13.28% from the company's previous close.

AAP has been the subject of a number of other reports. Royal Bank of Canada reduced their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research note on Thursday. Barclays reduced their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, January 9th. DA Davidson reaffirmed a "neutral" rating and issued a $45.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. BMO Capital Markets reduced their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a research note on Thursday. Finally, Truist Financial dropped their target price 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. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $46.69.

Remove Ads

Advance Auto Parts Stock Performance

Advance Auto Parts stock traded down $1.59 during midday trading on Thursday, reaching $35.31. 3,368,298 shares of the stock traded hands, compared to its average volume of 2,161,175. The firm has a fifty day moving average price of $45.88 and a two-hundred day moving average price of $43.50. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 1.98 and a beta of 1.15. Advance Auto Parts has a fifty-two week low of $35.02 and a fifty-two week high of $88.56. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

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 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 directly owns 24,266 shares of the company's stock, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its position in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock valued at $26,000 after purchasing an additional 365 shares in the last quarter. Allworth Financial LP grew its position in Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after purchasing an additional 818 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Advance Auto Parts during the fourth quarter valued at approximately $42,000. Advisory Services Network LLC purchased a new position in Advance Auto Parts during the fourth quarter valued at approximately $46,000. Finally, Blue Trust Inc. grew its position in Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company's stock worth $47,000 after acquiring an additional 436 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other 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.