Advance Auto Parts (NYSE:AAP) Price Target Raised to $47.00 at Citigroup

Advance Auto Parts (NYSE:AAP) had its target price boosted by Citigroup from $44.00 to $47.00 in a research report sent to investors on Friday, MarketBeat.com reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Evercore ISI lifted their target price on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets began coverage on shares of Advance Auto Parts in a research note on Friday, December 13th. They set a “market perform” rating and a $45.00 price objective for the company. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Truist Financial decreased their target price on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $47.88.

Advance Auto Parts Stock Performance

Shares of AAP opened at $43.46 on Friday. The stock has a 50-day moving average of $46.21 and a two-hundred day moving average of $44.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a market cap of $2.60 billion, a P/E ratio of 59.53, a P/E/G ratio of 2.02 and a beta of 1.15. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56.

Insider Activity

In related news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction 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 approximately $1,069,159.96. The trade was a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc boosted its holdings in Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after buying an additional 365 shares during the last quarter. Allworth Financial LP lifted its position in shares of Advance Auto Parts by 1,543.4% in the fourth 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 stake in shares of Advance Auto Parts in the fourth quarter worth approximately $42,000. Advisory Services Network LLC purchased a new stake in shares of Advance Auto Parts during the fourth quarter worth approximately $46,000. Finally, Blue Trust Inc. increased its position in shares of Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

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.