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

Advance Auto Parts (NYSE:AAP) had its price target upped by research analysts at Citigroup from $44.00 to $47.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 8.78% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada dropped their price target on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company upped their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. DA Davidson reissued a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Truist Financial lowered their target price on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.88.

Advance Auto Parts Price Performance

Shares of AAP traded down $1.14 during mid-day trading on Friday, reaching $43.21. The stock had a trading volume of 754,053 shares, compared to its average volume of 1,680,698. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 2.02 and a beta of 1.15. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The business has a fifty day moving average of $46.22 and a 200 day moving average of $44.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Insider Activity

In other news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction 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 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after acquiring an additional 365 shares in the last quarter. Allworth Financial LP grew its holdings 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 acquiring an additional 818 shares in the last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts during the 4th quarter worth about $42,000. Advisory Services Network LLC bought a new position in Advance Auto Parts during the 4th quarter worth about $46,000. Finally, Blue Trust Inc. grew its holdings in Advance Auto Parts by 56.7% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after acquiring an additional 436 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors.

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.