Royal Bank of Canada Lowers Advance Auto Parts (NYSE:AAP) Price Target to $44.00

Advance Auto Parts (NYSE:AAP) had its target price decreased by Royal Bank of Canada from $50.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 19.24% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company upped their price objective on 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. BMO Capital Markets reduced their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a research report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Citigroup boosted their target price on shares of Advance Auto Parts from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Finally, Wedbush restated an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.69.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $36.90 on Thursday. The company has a market capitalization of $2.20 billion, a PE ratio of 50.55, a PEG ratio of 1.98 and a beta of 1.15. 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 stock’s 50 day moving average price is $46.01 and its 200-day moving average price is $43.88. Advance Auto Parts has a twelve month low of $35.59 and a twelve month high of $88.56.

Insiders Place Their Bets

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the 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 sale, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after buying an additional 365 shares during the period. Allworth Financial LP boosted its position in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after acquiring an additional 818 shares during the last quarter. Vision Financial Markets LLC purchased a new position in shares of Advance Auto Parts during the fourth quarter worth about $42,000. Advisory Services Network LLC purchased a new position in shares of Advance Auto Parts during the fourth quarter worth about $46,000. Finally, Blue Trust Inc. increased its position in shares of Advance Auto Parts by 56.7% in 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 during the last quarter. Institutional investors 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.