Advance Auto Parts (NYSE:AAP) Stock Price Down 4.8% – Here’s What Happened

Advance Auto Parts, Inc. (NYSE:AAP)’s stock price fell 4.8% on Tuesday . The stock traded as low as $46.28 and last traded at $45.58. 116,476 shares changed hands during trading, a decline of 93% from the average session volume of 1,592,865 shares. The stock had previously closed at $47.87.

Wall Street Analyst Weigh In

AAP has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. Barclays reduced their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. DA Davidson restated a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. Finally, UBS Group boosted their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and a consensus price target of $47.93.

Advance Auto Parts Trading Down 6.6 %

The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $46.29 and a 200-day moving average price of $44.63. The firm has a market capitalization of $2.67 billion, a PE ratio of 61.25, a P/E/G ratio of 2.23 and a beta of 1.15.

Insider Buying and Selling

In other Advance Auto Parts 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 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. The trade was a 5.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Advance Auto Parts

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc grew its position in Advance Auto Parts by 207.4% during the fourth 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 period. Allworth Financial LP boosted its stake in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $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 4th quarter worth approximately $42,000. Advisory Services Network LLC purchased a new position in Advance Auto Parts in the 4th quarter valued at approximately $46,000. Finally, Blue Trust Inc. raised its holdings 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 last quarter. 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.