The Goldman Sachs Group Lowers Advance Auto Parts (NYSE:AAP) Price Target to $43.00

Advance Auto Parts (NYSE:AAP) had its target price dropped by equities researchers at The Goldman Sachs Group from $60.00 to $43.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 14.09% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada decreased their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price target for the company in a report on Tuesday, October 15th. Wells Fargo & Company reduced their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. TD Cowen lowered their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. Finally, Evercore ISI cut their price target on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $49.14.

Advance Auto Parts Trading Down 8.5 %

Shares of AAP stock opened at $37.69 on Friday. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a 50 day moving average price of $39.02 and a 200 day moving average price of $54.24. The stock has a market capitalization of $2.25 billion, a P/E ratio of 51.63, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23.

Advance Auto Parts (NYSE:AAP) last posted 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 analysts’ expectations of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS. Equities research analysts predict that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Advance Auto Parts

A number of hedge funds have recently modified their holdings of AAP. Allspring Global Investments Holdings LLC purchased a new position in Advance Auto Parts during the 1st quarter worth $34,000. Oppenheimer & Co. Inc. purchased a new position in shares of Advance Auto Parts during the first quarter worth about $292,000. Sei Investments Co. increased its position in Advance Auto Parts by 0.6% in the 1st quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock valued at $5,055,000 after acquiring an additional 352 shares during the period. US Bancorp DE raised its stake in Advance Auto Parts by 10.3% during the 1st quarter. US Bancorp DE now owns 12,767 shares of the company’s stock valued at $1,086,000 after acquiring an additional 1,197 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in Advance Auto Parts during the 1st quarter worth approximately $207,000. 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.