Advance Auto Parts, Inc. (NYSE:AAP) Receives $79.53 Average Price Target from Analysts

Advance Auto Parts, Inc. (NYSE:AAPGet Free Report) has earned a consensus recommendation of “Reduce” from the twenty-two brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $79.53.

Several research analysts recently issued reports on AAP shares. Wedbush reduced their price target on shares of Advance Auto Parts from $80.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. JPMorgan Chase & Co. reduced their price target on shares of Advance Auto Parts from $78.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. The Goldman Sachs Group reduced their price target on shares of Advance Auto Parts from $83.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. UBS Group reduced their price target on shares of Advance Auto Parts from $75.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. Finally, William Blair reiterated a “market perform” rating on shares of Advance Auto Parts in a research report on Wednesday, December 13th.

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Insider Transactions at Advance Auto Parts

In related news, EVP Kristen L. Soler acquired 500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were acquired at an average price of $55.60 per share, with a total value of $27,800.00. Following the acquisition, the executive vice president now owns 12,697 shares of the company’s stock, valued at approximately $705,953.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Advance Auto Parts news, EVP Kristen L. Soler purchased 500 shares of the stock in a transaction on Friday, December 8th. The shares were purchased at an average price of $55.60 per share, with a total value of $27,800.00. Following the acquisition, the executive vice president now directly owns 12,697 shares in the company, valued at approximately $705,953.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kristen L. Soler purchased 1,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was acquired at an average cost of $52.87 per share, for a total transaction of $52,870.00. Following the acquisition, the executive vice president now owns 12,197 shares in the company, valued at $644,855.39. The disclosure for this purchase can be found here. 0.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advance Auto Parts

A number of large investors have recently modified their holdings of AAP. ArrowMark Colorado Holdings LLC raised its stake in shares of Advance Auto Parts by 4.7% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,717 shares of the company’s stock worth $252,000 after purchasing an additional 77 shares during the last quarter. Covestor Ltd raised its stake in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Advance Auto Parts by 4.1% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,173 shares of the company’s stock worth $340,000 after purchasing an additional 86 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Advance Auto Parts by 6.5% in the first quarter. Wetherby Asset Management Inc. now owns 1,418 shares of the company’s stock worth $293,000 after purchasing an additional 87 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of Advance Auto Parts by 0.6% in the fourth quarter. Baird Financial Group Inc. now owns 15,845 shares of the company’s stock worth $2,329,000 after purchasing an additional 89 shares during the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Trading Down 3.0 %

NYSE:AAP opened at $64.11 on Tuesday. Advance Auto Parts has a 12 month low of $47.73 and a 12 month high of $155.01. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.26 and a beta of 1.15. The company has a quick ratio of 0.27, a current ratio of 1.23 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $61.87 and its 200-day moving average is $60.56.

Advance Auto Parts (NYSE:AAPGet Free Report) last announced its earnings results on Wednesday, November 15th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($2.26). Advance Auto Parts had a return on equity of 9.40% and a net margin of 1.65%. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the firm posted $2.84 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Advance Auto Parts will post 1.48 EPS for the current year.

About Advance Auto Parts

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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.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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