Advance Auto Parts (NYSE:AAP) Price Target Cut to $40.00 by Analysts at Citigroup

Advance Auto Parts (NYSE:AAP) had its price target lowered by Citigroup from $47.00 to $40.00 in a research report report published on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

AAP has been the subject of a number of other research reports. The Goldman Sachs Group reduced their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Barclays cut their price objective on shares of 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. Wells Fargo & Company raised their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. 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. Finally, Royal Bank of Canada reduced their price target on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and an average target price of $46.69.

Advance Auto Parts Stock Performance

AAP opened at $36.96 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The business has a fifty day simple moving average of $46.11 and a 200 day simple moving average of $43.93. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The company has a market capitalization of $2.21 billion, a PE ratio of 50.62, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Advance Auto Parts

Institutional investors have recently added to or reduced their stakes in the stock. United Advisor Group LLC acquired a new stake in Advance Auto Parts in the fourth quarter valued at approximately $356,000. Mackenzie Financial Corp acquired a new position in shares of Advance Auto Parts during the fourth quarter worth $953,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Advance Auto Parts by 6.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,961 shares of the company’s stock valued at $7,470,000 after acquiring an additional 9,803 shares during the last quarter. Towle & Co. boosted its holdings in shares of Advance Auto Parts by 2.1% during the 4th quarter. Towle & Co. now owns 352,778 shares of the company’s stock valued at $16,683,000 after acquiring an additional 7,123 shares in the last quarter. Finally, Tairen Capital Ltd grew its position in Advance Auto Parts by 415.8% during the 4th quarter. Tairen Capital Ltd now owns 215,851 shares of the company’s stock worth $10,208,000 after acquiring an additional 174,000 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.