Advance Auto Parts (NYSE:AAP) Price Target Raised to $49.17 at Raymond James

Advance Auto Parts (NYSE:AAP) had its price target increased by equities research analysts at Raymond James to $49.17 in a research report issued on Monday, Stock Target Advisor reports. The firm currently has a “hold” rating on the stock. Raymond James’ target price would indicate a potential upside of 0.97% from the company’s current price.

AAP has been the subject of a number of other research reports. Citigroup dropped their price objective on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $48.00 price target (up from $43.00) on shares of Advance Auto Parts in a research report on Thursday. BMO Capital Markets reissued a “market perform” rating and set a $50.00 price target (up previously from $40.00) on shares of Advance Auto Parts in a research report on Friday. Evercore ISI boosted their price objective on shares of Advance Auto Parts from $35.00 to $45.00 and gave the company an “in-line” rating in a report on Friday. Finally, Truist Financial reduced their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.90.

Advance Auto Parts Stock Down 1.0%

Shares of NYSE AAP opened at $48.70 on Monday. The company’s fifty day simple moving average is $34.63 and its 200 day simple moving average is $40.39. The firm has a market cap of $2.91 billion, a PE ratio of 66.71, a P/E/G ratio of 1.98 and a beta of 0.93. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 12-month low of $28.89 and a 12-month high of $71.62.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.59. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm’s revenue was down 24.2% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. As a group, sell-side analysts forecast that Advance Auto Parts will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Advance Auto Parts

In related news, CEO Shane M. Okelly purchased 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the transaction, the chief executive officer now owns 183,121 shares of the company’s stock, valued at $6,737,021.59. This represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the purchase, the director now directly owns 34,070 shares of the company’s stock, valued at $1,163,490.50. This represents a 75.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advance Auto Parts

Large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its stake in Advance Auto Parts by 189.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock worth $28,000 after purchasing an additional 465 shares during the period. Allworth Financial LP raised its stake in Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after acquiring an additional 818 shares in the last quarter. Vision Financial Markets LLC bought a new stake in Advance Auto Parts during the 4th quarter worth approximately $42,000. Advisory Services Network LLC bought a new position in shares of Advance Auto Parts in the fourth quarter valued at about $46,000. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Advance Auto Parts in the first quarter valued at approximately $49,000. 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.