Truist Financial Cuts Advance Auto Parts (NYSE:AAP) Price Target to $41.00

Advance Auto Parts (NYSE:AAP) had its price target lowered by analysts at Truist Financial from $46.00 to $41.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 5.81% from the stock’s current price.

A number of other research firms have also recently commented on AAP. JPMorgan Chase & Co. lowered their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Mizuho restated a “neutral” rating and issued a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. TD Cowen lowered their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI lowered their target price on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.54.

Advance Auto Parts Trading Down 0.2 %

Shares of Advance Auto Parts stock traded down $0.09 on Thursday, hitting $38.75. 8,105 shares of the company’s stock traded hands, compared to its average volume of 1,984,965. The firm’s 50-day moving average price is $39.54 and its two-hundred day moving average price is $56.01. The stock has a market capitalization of $2.31 billion, a PE ratio of 3,806.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.17. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the company earned $1.43 EPS. Advance Auto Parts’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts expect that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Advance Auto Parts

A number of large investors have recently modified their holdings of AAP. Allspring Global Investments Holdings LLC acquired a new position in shares of Advance Auto Parts during the 1st quarter worth about $34,000. Mather Group LLC. lifted its stake in Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after purchasing an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Advance Auto Parts in the 2nd quarter valued at about $41,000. Blue Trust Inc. lifted its stake 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 during the last quarter. Finally, AM Squared Ltd acquired a new stake in Advance Auto Parts in the 2nd quarter valued at about $63,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.