Advance Auto Parts (NYSE:AAP) Price Target Lowered to $54.00 at Barclays

Advance Auto Parts (NYSE:AAP) had its price objective decreased by Barclays from $66.00 to $54.00 in a report published on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

AAP has been the topic of a number of other research reports. Roth Mkm reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Mizuho reaffirmed a “neutral” rating and set a $38.00 price target (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. BMO Capital Markets began coverage on shares of Advance Auto Parts in a report on Friday, December 13th. They set a “market perform” rating and a $45.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, 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. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.93.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $46.33 on Thursday. The firm has a market capitalization of $2.77 billion, a PE ratio of 63.47 and a beta of 1.16. Advance Auto Parts has a 52 week low of $35.59 and a 52 week high of $88.56. The firm’s 50-day simple moving average is $43.08 and its 200 day simple moving average is $47.23. 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 (NYSE:AAP) last announced 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). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the company earned ($0.82) EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts predict that Advance Auto Parts will post -0.54 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.16%. Advance Auto Parts’s dividend payout ratio is presently 136.99%.

Insider Activity

In related 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 transaction, the executive vice president now owns 24,266 shares in the company, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Several large investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its holdings in shares of Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after acquiring an additional 365 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Advance Auto Parts in the second quarter valued at about $41,000. Blue Trust Inc. lifted its stake in shares of Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Advance Auto Parts by 198.3% in 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. Finally, KBC Group NV grew its stake in shares of Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after buying an additional 394 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

About Advance Auto Parts

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.