Advance Auto Parts (NYSE:AAP – Get Free Report) had its target price cut by research analysts at Truist Financial from $39.00 to $34.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential downside of 7.02% from the stock’s current price.
AAP has been the topic of several other reports. The Goldman Sachs Group decreased their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. UBS Group raised their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. Wells Fargo & Company raised their target price on 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. Finally, Citigroup boosted their price target on Advance Auto Parts from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and a consensus target price of $47.56.
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Advance Auto Parts Stock Down 3.0 %
Insider Buying and Selling
In related news, EVP Tammy M. Finley sold 1,276 shares of the firm’s 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of AAP. Price T Rowe Associates Inc. MD lifted its stake in shares of Advance Auto Parts by 34.3% during the fourth 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. Fuller & Thaler Asset Management Inc. raised its holdings in Advance Auto Parts by 11.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company’s stock worth $163,129,000 after purchasing an additional 347,587 shares during the last quarter. Pzena Investment Management LLC lifted its position in Advance Auto Parts by 12.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company’s stock valued at $154,681,000 after purchasing an additional 362,239 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Advance Auto Parts by 12.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company’s stock valued at $129,016,000 after purchasing an additional 297,741 shares during the last quarter. Finally, Eminence Capital LP acquired a new stake in shares of Advance Auto Parts during the 4th quarter worth approximately $87,214,000. 88.75% of the stock is currently owned by institutional investors.
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.
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