Advance Auto Parts (NYSE:AAP) PT Lowered to $40.00 at Wells Fargo & Company

Advance Auto Parts (NYSE:AAP) had its price target cut by investment analysts at Wells Fargo & Company from $50.00 to $40.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 3.45% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Truist Financial decreased their price objective on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. TD Cowen decreased their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Bank of America boosted their target price on Advance Auto Parts from $51.00 to $55.00 and gave the stock an “underperform” rating in a report on Thursday, May 30th. UBS Group boosted their target price on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Finally, Royal Bank of Canada reduced their target price on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.54.

Advance Auto Parts Stock Up 4.9 %

AAP stock opened at $41.43 on Friday. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The business’s 50-day simple moving average is $55.00 and its 200 day simple moving average is $66.44. The company has a market cap of $2.47 billion, a PE ratio of 60.04, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. Advance Auto Parts has a twelve month low of $37.51 and a twelve month high of $88.56.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 earnings per share. On average, research analysts anticipate that Advance Auto Parts will post 2.19 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Principal Securities Inc. bought a new stake in shares of Advance Auto Parts during the 4th quarter valued at $27,000. Hexagon Capital Partners LLC raised its position in shares of Advance Auto Parts by 267.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after acquiring an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at $34,000. Mather Group LLC. increased its position in shares of Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after buying an additional 596 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Advance Auto Parts in the 2nd quarter valued at $41,000. 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.