Citigroup Raises Advance Auto Parts (NYSE:AAP) Price Target to $47.00

Advance Auto Parts (NYSE:AAP) had its price objective raised by equities research analysts at Citigroup from $44.00 to $47.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 8.78% from the stock’s previous close.

AAP has been the subject of a number of other research reports. BMO Capital Markets assumed coverage on Advance Auto Parts in a report on Friday, December 13th. They set a “market perform” rating and a $45.00 target price for the company. Evercore ISI increased their price target on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. DA Davidson reiterated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Wells Fargo & Company raised their price target on Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Truist Financial decreased their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.88.

Advance Auto Parts Price Performance

NYSE AAP traded down $1.14 during trading hours on Friday, reaching $43.21. The company’s stock had a trading volume of 754,053 shares, compared to its average volume of 1,680,698. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 59.19, a P/E/G ratio of 2.02 and a beta of 1.15. Advance Auto Parts has a 1-year low of $35.59 and a 1-year high of $88.56. 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 company’s 50-day moving average is $46.22 and its two-hundred day moving average is $44.51.

Insider Transactions at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Advance Auto Parts

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 in the last quarter. Allworth Financial LP boosted its holdings in Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after purchasing an additional 818 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Advance Auto Parts in the 4th quarter valued at approximately $42,000. Advisory Services Network LLC purchased a new stake in Advance Auto Parts in the 4th quarter valued at approximately $46,000. Finally, Blue Trust Inc. boosted its holdings in 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 in the last quarter. Hedge funds and other institutional investors 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.