Advance Auto Parts (NYSE:AAP) Price Target Lowered to $40.00 at BMO Capital Markets

Advance Auto Parts (NYSE:AAP) had its price target cut by equities research analysts at BMO Capital Markets from $45.00 to $40.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 4.87% from the company’s current price.

AAP has been the subject of several other reports. 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. Wells Fargo & Company upped their price objective on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Truist Financial decreased their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday. DA Davidson reiterated a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. Finally, Barclays decreased their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. One 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 company. According to data from MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and an average target price of $47.25.

Advance Auto Parts Trading Up 1.2 %

AAP traded up $0.44 during trading on Thursday, hitting $38.14. 1,452,077 shares of the stock traded hands, compared to its average volume of 2,004,427. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The firm has a market capitalization of $2.28 billion, a P/E ratio of 52.08, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. The firm has a 50-day moving average of $46.11 and a 200 day moving average of $43.93.

Insider Activity

In other news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

A number of institutional investors have recently made changes to their positions in the stock. United Advisor Group LLC purchased a new stake in shares of Advance Auto Parts during the 4th quarter valued at about $356,000. Mackenzie Financial Corp purchased a new stake in shares of Advance Auto Parts during the 4th quarter valued at about $953,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Advance Auto Parts by 6.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,961 shares of the company’s stock valued at $7,470,000 after acquiring an additional 9,803 shares during the last quarter. Towle & Co. boosted its holdings in shares of Advance Auto Parts by 2.1% during the 4th quarter. Towle & Co. now owns 352,778 shares of the company’s stock valued at $16,683,000 after acquiring an additional 7,123 shares during the last quarter. Finally, Tairen Capital Ltd boosted its holdings in shares of Advance Auto Parts by 415.8% during the 4th quarter. Tairen Capital Ltd now owns 215,851 shares of the company’s stock valued at $10,208,000 after acquiring an additional 174,000 shares during the last quarter. Hedge funds and other 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.