Advance Auto Parts (NYSE:AAP) Price Target Raised to $47.00 at Citigroup

Advance Auto Parts (NYSE:AAP) had its price target hoisted by Citigroup from $44.00 to $47.00 in a report released on Friday, MarketBeat Ratings reports. The firm currently has a neutral rating on the stock.

AAP has been the subject of several other reports. UBS Group upped their target price on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Wells Fargo & Company boosted their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. DA Davidson restated a “neutral” rating and set a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Royal Bank of Canada decreased their target price on shares of 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. Finally, Truist Financial cut their price target on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.88.

Advance Auto Parts Price Performance

AAP stock opened at $43.46 on Friday. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The firm has a market capitalization of $2.60 billion, a PE ratio of 59.53, a price-to-earnings-growth ratio of 2.02 and a beta of 1.15. The business has a 50 day simple moving average of $46.21 and a 200-day simple moving average of $44.40.

Insider Transactions at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Advance Auto Parts

Several institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares during the period. Allworth Financial LP increased its stake in Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after buying an additional 818 shares during the period. Vision Financial Markets LLC acquired a new stake in Advance Auto Parts during the 4th quarter worth approximately $42,000. Advisory Services Network LLC purchased a new position in Advance Auto Parts in the 4th quarter valued at approximately $46,000. Finally, Blue Trust Inc. boosted its position in Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after buying an additional 436 shares during the period. 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.