Truist Financial Has Lowered Expectations for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP) had its price objective reduced by analysts at Truist Financial from $39.00 to $34.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential downside of 7.86% from the stock’s previous close.

AAP has been the topic of a number of other reports. Wells Fargo & Company raised 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. DA Davidson restated a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. UBS Group increased their target price on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Evercore ISI boosted their target price on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.69.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $36.90 on Thursday. The company has a market cap 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 current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The company’s 50-day moving average is $46.01 and its two-hundred day moving average is $43.88.

Insider Buying and Selling at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Eminence Capital LP bought a new position in shares of Advance Auto Parts in the fourth quarter valued at $87,214,000. Price T Rowe Associates Inc. MD grew its position in shares of Advance Auto Parts by 34.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company’s stock valued at $316,160,000 after acquiring an additional 1,706,328 shares during the period. Pzena Investment Management LLC increased its stake in shares of Advance Auto Parts by 140.3% during the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after purchasing an additional 1,698,155 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Advance Auto Parts in the 4th quarter valued at about $75,055,000. Finally, Marshall Wace LLP lifted its stake in Advance Auto Parts by 2,585.1% in the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company’s stock valued at $64,026,000 after purchasing an additional 1,303,488 shares during the last quarter. 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.