BMO Capital Markets Lowers Advance Auto Parts (NYSE:AAP) Price Target to $40.00

Advance Auto Parts (NYSE:AAP) had its target price reduced by equities researchers at BMO Capital Markets from $45.00 to $40.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 8.40% from the stock’s previous close.

A number of other brokerages also recently weighed in on AAP. Royal Bank of Canada cut their price target on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. UBS Group raised their target price on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Barclays decreased their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Truist Financial cut their price objective on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group decreased their target price on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Advance Auto Parts has a consensus rating of “Hold” and an average target price of $46.69.

Advance Auto Parts Trading Down 0.2 %

Shares of Advance Auto Parts stock opened at $36.90 on Thursday. The business has a fifty day simple moving average of $46.01 and a 200-day simple moving average of $43.88. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Insiders Place Their Bets

In related news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was 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 filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

A number of institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after purchasing an additional 436 shares during the last quarter. Raymond James & Associates lifted its position in shares of Advance Auto Parts by 11.7% in the third quarter. Raymond James & Associates now owns 106,475 shares of the company’s stock worth $4,151,000 after buying an additional 11,169 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Advance Auto Parts by 7.1% during the 3rd quarter. Stephens Inc. AR now owns 27,704 shares of the company’s stock valued at $1,080,000 after acquiring an additional 1,828 shares during the last quarter. Easterly Investment Partners LLC raised its stake in shares of Advance Auto Parts by 32.2% in the 3rd quarter. Easterly Investment Partners LLC now owns 43,951 shares of the company’s stock valued at $1,714,000 after acquiring an additional 10,709 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Advance Auto Parts by 45.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,909 shares of the company’s stock worth $387,000 after purchasing an additional 3,088 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.