Advance Auto Parts (NYSE:AAP) Given New $44.00 Price Target at Royal Bank of Canada

Advance Auto Parts (NYSE:AAP) had its target price dropped by investment analysts at Royal Bank of Canada from $50.00 to $44.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 14.95% from the company’s current price.

AAP has been the subject of a number of other reports. Barclays reduced their price objective 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. Citigroup raised their target price on Advance Auto Parts from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. BMO Capital Markets cut their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a research note on Thursday. DA Davidson restated a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. Finally, Wells Fargo & Company increased their price target 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. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.13.

Advance Auto Parts Stock Up 1.5 %

AAP stock traded up $0.58 during trading hours on Thursday, hitting $38.28. The company’s stock had a trading volume of 1,869,353 shares, compared to its average volume of 2,014,853. The stock has a 50 day moving average price of $46.11 and a two-hundred day moving average price of $43.93. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a market capitalization of $2.29 billion, a PE ratio of 52.23, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Insider Activity

In other Advance Auto Parts 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 transaction of $56,220.56. Following 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 filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advance Auto Parts

A number of hedge funds and other institutional investors have recently made changes to their positions in AAP. Versant Capital Management Inc raised its stake in shares of Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares during the period. Allworth Financial LP lifted its stake in Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after acquiring an additional 818 shares in the last quarter. Vision Financial Markets LLC acquired a new position in Advance Auto Parts during the 4th quarter worth approximately $42,000. Advisory Services Network LLC bought a new position in shares of Advance Auto Parts during the 4th quarter worth approximately $46,000. Finally, Blue Trust Inc. raised its holdings 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 last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.