Evercore ISI Cuts Advance Auto Parts (NYSE:AAP) Price Target to $78.00

Advance Auto Parts (NYSE:AAP) had its target price lowered by Evercore ISI from $82.00 to $78.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 9.95% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Barclays lifted their target price on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their price target on Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Truist Financial upped their price objective on Advance Auto Parts from $60.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Mizuho initiated coverage on shares of Advance Auto Parts in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 target price for the company. Finally, TheStreet raised shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.18.

Advance Auto Parts Stock Up 1.2 %

AAP traded up $0.86 during trading on Tuesday, reaching $70.94. 316,628 shares of the stock were exchanged, compared to its average volume of 1,830,398. The stock’s 50 day moving average price is $73.73 and its two-hundred day moving average price is $63.11. Advance Auto Parts has a twelve month low of $47.73 and a twelve month high of $129.90. The stock has a market cap of $4.23 billion, a P/E ratio of 95.86, a price-to-earnings-growth ratio of 1.28 and a beta of 1.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the business posted $2.88 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts expect that Advance Auto Parts will post 3.94 EPS for the current year.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, EVP Herman L. Word, Jr. sold 1,858 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the transaction, the executive vice president now owns 10,448 shares in the company, valued at approximately $899,363.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Advance Auto Parts news, EVP Herman L. Word, Jr. sold 1,858 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the sale, the executive vice president now directly owns 10,448 shares in the company, valued at approximately $899,363.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brent Windom acquired 4,700 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was acquired at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Allworth Financial LP increased its stake in Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after buying an additional 266 shares during the last quarter. Dagco Inc. bought a new stake in Advance Auto Parts during the fourth quarter worth $25,000. Clear Street Markets LLC boosted its position in Advance Auto Parts by 245.9% in the first quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Principal Securities Inc. bought a new position in Advance Auto Parts in the 4th quarter valued at $27,000. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of Advance Auto Parts during the 2nd quarter valued at $28,000. 88.75% of the stock is owned by institutional investors.

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.