Evercore ISI Issues Pessimistic Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP) had its target price decreased by Evercore ISI from $37.00 to $35.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price objective would suggest a potential downside of 5.13% from the company’s current price.

AAP has been the topic of several other research reports. UBS Group boosted their price target 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. 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 on the stock in a report on Thursday, February 27th. Citigroup decreased their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Monday, March 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.13.

Advance Auto Parts Stock Up 0.9 %

Shares of AAP stock traded up $0.31 during trading hours on Tuesday, reaching $36.89. 893,773 shares of the company’s stock were exchanged, compared to its average volume of 2,285,703. The stock has a market cap of $2.21 billion, a PE ratio of 50.66, a PEG ratio of 1.98 and a beta of 1.27. 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 stock’s fifty day moving average price is $44.78 and its two-hundred day moving average price is $42.45. Advance Auto Parts has a 1 year low of $33.08 and a 1 year high of $88.56.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the acquisition, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc increased its stake in shares of Advance Auto Parts by 3.9% in the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock worth $277,000 after acquiring an additional 221 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of Advance Auto Parts by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock valued at $1,242,000 after purchasing an additional 281 shares during the period. Ingalls & Snyder LLC increased its position in Advance Auto Parts by 5.0% during the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock worth $316,000 after purchasing an additional 317 shares during the last quarter. Studio Investment Management LLC raised its stake in Advance Auto Parts by 6.7% during the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company’s stock worth $263,000 after purchasing an additional 350 shares during the period. Finally, 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 valued at $26,000 after purchasing an additional 365 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

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.