Advance Auto Parts (NYSE:AAP) Given New $41.00 Price Target at Truist Financial

Advance Auto Parts (NYSE:AAP) had its target price lowered by Truist Financial from $46.00 to $41.00 in a research report sent to investors on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms have also issued reports on AAP. Wells Fargo & Company dropped their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Evercore ISI reduced their price objective on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. Roth Mkm restated a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and an average target price of $55.54.

Advance Auto Parts Price Performance

NYSE:AAP traded down $0.92 during midday trading on Thursday, hitting $38.06. 993,219 shares of the stock were exchanged, compared to its average volume of 1,988,026. The business has a 50-day moving average price of $39.40 and a two-hundred day moving average price of $55.89. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 3,898.00, a P/E/G ratio of 1.22 and a beta of 1.17. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last issued 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). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Advance Auto Parts’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts predict that Advance Auto Parts will post 2.19 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AAP. Allspring Global Investments Holdings LLC bought a new position in Advance Auto Parts in the first quarter worth $34,000. Mather Group LLC. raised its holdings in 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 acquiring an additional 596 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Advance Auto Parts in the 2nd quarter worth about $41,000. Blue Trust Inc. lifted its position in 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 during the period. Finally, AM Squared Ltd bought a new stake in shares of Advance Auto Parts during the 2nd quarter worth $63,000. Institutional investors and hedge funds 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.