Brokerages Set Advance Auto Parts, Inc. (NYSE:AAP) PT at $50.08

Advance Auto Parts, Inc. (NYSE:AAP) has earned an average rating of “Hold” from the twenty-four ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $50.0805.

Several brokerages have recently weighed in on AAP. DA Davidson set a $47.00 price target on shares of Advance Auto Parts in a research note on Monday, January 12th. Roth Mkm reaffirmed a “neutral” rating and issued a $55.00 target price (up previously from $50.00) on shares of Advance Auto Parts in a research report on Monday, October 27th. Citigroup raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Wednesday, January 21st. Cfra Research upgraded shares of Advance Auto Parts to a “hold” rating in a research note on Thursday, October 30th. Finally, TD Cowen lowered their target price on Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th.

Insider Buying and Selling at Advance Auto Parts

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 sale, the executive vice president owned 23,165 shares in the company, valued at $1,181,415. This represents a 24.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Advance Auto Parts

Institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of Advance Auto Parts by 1.1% in the 3rd quarter. Amalgamated Bank now owns 17,270 shares of the company’s stock valued at $1,060,000 after acquiring an additional 185 shares during the period. Hsbc Holdings PLC lifted its stake in Advance Auto Parts by 3.1% in the 2nd quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock valued at $293,000 after purchasing an additional 191 shares during the last quarter. Arizona State Retirement System grew its holdings in Advance Auto Parts by 1.6% during the third quarter. Arizona State Retirement System now owns 17,733 shares of the company’s stock worth $1,089,000 after purchasing an additional 272 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Advance Auto Parts by 2.0% during the second quarter. Rockefeller Capital Management L.P. now owns 14,535 shares of the company’s stock worth $676,000 after purchasing an additional 283 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Advance Auto Parts by 0.6% during the third quarter. Envestnet Asset Management Inc. now owns 54,237 shares of the company’s stock worth $3,330,000 after buying an additional 297 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Up 1.7%

NYSE:AAP opened at $48.82 on Friday. The stock has a 50-day simple moving average of $45.22 and a 200 day simple moving average of $52.61. Advance Auto Parts has a 52-week low of $28.89 and a 52-week high of $70.00. The company has a market cap of $2.93 billion, a PE ratio of -7.76 and a beta of 1.14. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.73.

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.