Wells Fargo & Company Issues Positive Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP - Get Free Report) had its target price increased by equities research analysts at Wells Fargo & Company from $40.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential downside of 5.62% from the company's previous close.

Several other brokerages have also recently commented on AAP. Mizuho reiterated a "neutral" rating and set a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. BMO Capital Markets assumed coverage on Advance Auto Parts in a report on Friday, December 13th. They issued a "market perform" rating and a $45.00 price objective for the company. UBS Group raised their target price on Advance Auto Parts from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Roth Capital raised Advance Auto Parts to a "hold" rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada cut their price target on shares of Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating on the stock in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $48.73.

Advance Auto Parts Trading Up 2.9 %

AAP stock traded up $1.34 during trading on Monday, hitting $47.68. The company had a trading volume of 2,766,802 shares, compared to its average volume of 2,107,907. The firm has a 50-day moving average price of $42.29 and a 200-day moving average price of $47.64. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 65.32 and a beta of 1.16.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.53). The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.82) EPS. As a group, analysts predict that Advance Auto Parts will post -0.54 earnings per share for the current year.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction on Thursday, December 5th. The shares were 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. The trade was a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by insiders.

Institutional Trading of Advance Auto Parts

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pzena Investment Management LLC increased its position in shares of Advance Auto Parts by 140.3% during the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company's stock worth $113,409,000 after purchasing an additional 1,698,155 shares during the last quarter. Dorsal Capital Management LP increased its holdings in Advance Auto Parts by 159.7% during the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company's stock worth $79,162,000 after buying an additional 768,664 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company's stock worth $80,197,000 after acquiring an additional 547,696 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Advance Auto Parts in the third quarter valued at $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Advance Auto Parts in the 3rd quarter valued at about $14,684,000. 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.