Advance Auto Parts (NYSE:AAP) Price Target Lowered to $40.00 at Citigroup

Advance Auto Parts (NYSE:AAP) had its target price cut by Citigroup from $47.00 to $40.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also weighed in on the company. Barclays reduced their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. UBS Group lifted their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Truist Financial lowered their target price on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday. Wells Fargo & Company lifted their price target 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. Finally, BMO Capital Markets lowered their price objective 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. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Hold” and an average target price of $46.69.

Advance Auto Parts Trading Down 2.0 %

AAP opened at $36.96 on Thursday. The firm’s fifty day moving average is $46.11 and its two-hundred day moving average is $43.93. The firm has a market cap of $2.21 billion, a PE ratio of 50.62, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. Advance Auto Parts has a twelve month low of $35.59 and a twelve month high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 136.99%.

Insider Activity

In related 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 value of $56,220.56. Following the completion of the sale, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

Several institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in shares of 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 during the last quarter. Allworth Financial LP lifted 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 valued at $40,000 after purchasing an additional 818 shares during the last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts during the fourth quarter worth $42,000. Advisory Services Network LLC acquired a new position in shares of Advance Auto Parts in the fourth quarter valued at $46,000. Finally, Blue Trust Inc. raised 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 valued at $47,000 after purchasing an additional 436 shares during the period. 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.