Advance Auto Parts (NYSE:AAP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Advance Auto Parts (NYSE:AAP) had its target price lifted by equities research analysts at Wells Fargo & Company from $40.00 to $45.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 2.89% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. Mizuho reaffirmed a “neutral” rating and set a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Evercore ISI lifted their price target on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Finally, Royal Bank of Canada decreased their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. One equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.73.

Advance Auto Parts Stock Down 3.7 %

Shares of Advance Auto Parts stock opened at $46.34 on Monday. Advance Auto Parts has a twelve month low of $35.59 and a twelve 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 company’s 50 day moving average is $42.08 and its 200 day moving average is $47.88. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 63.48 and a beta of 1.16.

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

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the firm’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 value of $56,220.56. Following the completion of the sale, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Advance Auto Parts by 198.3% during the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after buying an additional 1,047 shares during the period. Versant Capital Management Inc raised its holdings in shares of Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after purchasing an additional 365 shares during the last quarter. Virtu Financial LLC acquired a new position in Advance Auto Parts during the third quarter valued at $1,117,000. Savoie Capital LLC boosted its holdings in Advance Auto Parts by 117.2% in the third quarter. Savoie Capital LLC now owns 69,500 shares of the company’s stock valued at $2,710,000 after purchasing an additional 37,500 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Advance Auto Parts during the 3rd quarter worth about $503,000. 88.75% of the stock is owned by institutional investors and hedge funds.

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.