Advance Auto Parts (NYSE:AAP) Price Target Cut to $54.00 by Analysts at Barclays

Advance Auto Parts (NYSE:AAP - Get Free Report) had its target price decreased by research analysts at Barclays from $66.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target suggests a potential upside of 18.66% from the stock's current price.

Several other brokerages have also recently issued reports on AAP. Mizuho restated a "neutral" rating and set a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. UBS Group boosted their price target on Advance Auto Parts from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Truist Financial reduced their price objective on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating on the stock in a research note on Friday, November 15th. The Goldman Sachs Group lowered their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Finally, BMO Capital Markets assumed coverage on shares of Advance Auto Parts in a report on Friday, December 13th. They set a "market perform" rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $47.93.

Advance Auto Parts Stock Down 1.0 %

Shares of AAP traded down $0.48 during trading on Thursday, reaching $45.51. The company's stock had a trading volume of 1,549,214 shares, compared to its average volume of 1,997,943. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 62.34 and a beta of 1.16. 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 company has a fifty day moving average of $42.69 and a two-hundred day moving average of $47.49. Advance Auto Parts has a twelve month low of $35.59 and a twelve month high of $88.56.

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

Insider Transactions 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 stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the sale, the executive vice president now owns 24,266 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.35% of the company's stock.

Institutional Trading of Advance Auto Parts

Several institutional investors have recently modified their holdings of the company. TD Asset Management Inc boosted its holdings in Advance Auto Parts by 215.8% during the second quarter. TD Asset Management Inc now owns 60,000 shares of the company's stock worth $3,800,000 after buying an additional 41,000 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Advance Auto Parts by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 16,687 shares of the company's stock worth $1,057,000 after acquiring an additional 334 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Advance Auto Parts during the second quarter worth $41,000. PFG Investments LLC purchased a new stake in shares of Advance Auto Parts during the second quarter valued at $216,000. Finally, American Century Companies Inc. boosted its position in shares of Advance Auto Parts by 59.2% in the 2nd quarter. American Century Companies Inc. now owns 169,557 shares of the company's stock valued at $10,738,000 after purchasing an additional 63,031 shares during the period. Institutional investors and hedge funds 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.