Advance Auto Parts (NYSE:AAP) Given New $35.00 Price Target at Evercore ISI

Advance Auto Parts (NYSE:AAP) had its target price decreased by stock analysts at Evercore ISI from $37.00 to $35.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price target suggests a potential downside of 7.08% from the stock’s previous close.

A number of other brokerages have also issued reports on AAP. The Goldman Sachs Group reduced their price target on 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. BMO Capital Markets cut their price objective on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada cut their price objective on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Barclays cut their price objective on 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. Finally, UBS Group upped their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating 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 given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.13.

Advance Auto Parts Trading Up 3.1 %

Shares of AAP stock opened at $37.67 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts has a 1 year low of $33.08 and a 1 year high of $88.56. The stock has a fifty day moving average of $44.56 and a two-hundred day moving average of $42.36. The firm has a market capitalization of $2.25 billion, a PE ratio of 51.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27.

Insider Buying and Selling at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. bought 14,640 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the transaction, the director now directly owns 34,070 shares of the company’s stock, valued at $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Shane M. Okelly bought 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the transaction, the chief executive officer now directly owns 183,121 shares in the company, valued at $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Advance Auto Parts

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in Advance Auto Parts by 34.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company’s stock valued at $316,160,000 after purchasing an additional 1,706,328 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Advance Auto Parts by 11.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company’s stock valued at $163,129,000 after purchasing an additional 347,587 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Advance Auto Parts by 12.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company’s stock valued at $154,681,000 after purchasing an additional 362,239 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Advance Auto Parts by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company’s stock valued at $129,016,000 after purchasing an additional 297,741 shares in the last quarter. Finally, Eminence Capital LP acquired a new stake in Advance Auto Parts during the 4th quarter valued at $87,214,000. 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.