Advance Auto Parts (NYSE:AAP) Earns Neutral Rating from DA Davidson

Advance Auto Parts (NYSE:AAP)‘s stock had its “neutral” rating reissued by investment analysts at DA Davidson in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $47.00 price objective on the stock. DA Davidson’s price target would suggest a potential downside of 11.23% from the stock’s previous close.

Several other equities analysts have also commented on AAP. Northcoast Research upgraded shares of Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, January 21st. Royal Bank Of Canada dropped their price target on Advance Auto Parts from $60.00 to $57.00 and set a “sector perform” rating on the stock in a report on Wednesday. Morgan Stanley decreased their price objective on shares of Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Citigroup upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Wednesday, January 21st. Finally, UBS Group set a $40.00 target price on Advance Auto Parts in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.70.

Advance Auto Parts Stock Down 2.9%

AAP stock traded down $1.57 during mid-day trading on Thursday, hitting $52.95. 1,973,259 shares of the company were exchanged, compared to its average volume of 2,034,193. The company has a current ratio of 1.73, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. The firm has a fifty day simple moving average of $45.27 and a 200 day simple moving average of $52.55. Advance Auto Parts has a twelve month low of $28.89 and a twelve month high of $70.00. The company has a market capitalization of $3.18 billion, a PE ratio of -8.42 and a beta of 1.14.

Insider Buying and Selling

In other news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the completion of the transaction, the executive vice president directly owned 23,165 shares in the company, valued at $1,181,415. The trade was a 24.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Advance Auto Parts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC lifted its stake in Advance Auto Parts by 1.9% during the second quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock worth $204,322,000 after purchasing an additional 82,456 shares during the period. Federated Hermes Inc. boosted its stake in Advance Auto Parts by 12.8% in the 3rd quarter. Federated Hermes Inc. now owns 2,694,027 shares of the company’s stock valued at $165,413,000 after buying an additional 306,702 shares in the last quarter. State Street Corp grew its position in Advance Auto Parts by 13.5% in the second quarter. State Street Corp now owns 2,406,039 shares of the company’s stock valued at $111,857,000 after acquiring an additional 286,148 shares during the period. American Century Companies Inc. raised its stake in Advance Auto Parts by 559.0% during the third quarter. American Century Companies Inc. now owns 1,519,591 shares of the company’s stock worth $93,303,000 after acquiring an additional 1,288,986 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Advance Auto Parts by 48.4% during the second quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock valued at $65,867,000 after acquiring an additional 461,761 shares during the period. Institutional investors own 88.70% of the company’s stock.

About Advance Auto Parts

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.