Truist Financial Lowers Advance Auto Parts (NYSE:AAP) Price Target to $55.00

Advance Auto Parts (NYSE:AAP) had its price objective lowered by stock analysts at Truist Financial from $57.00 to $55.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 10.90% from the stock’s current price.

AAP has been the topic of several other research reports. Northcoast Research raised shares of Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, January 21st. Wells Fargo & Company raised their target price on shares of Advance Auto Parts from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, January 21st. Citigroup increased their price objective on shares of Advance Auto Parts from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, TD Cowen restated a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $52.88.

Advance Auto Parts Price Performance

NYSE:AAP traded down $3.03 on Wednesday, reaching $49.60. 337,936 shares of the company’s stock traded hands, compared to its average volume of 1,710,825. The stock has a 50-day simple moving average of $53.92 and a 200-day simple moving average of $50.51. Advance Auto Parts has a 12 month low of $31.28 and a 12 month high of $70.00. The firm has a market cap of $2.99 billion, a PE ratio of 67.90, a P/E/G ratio of 0.91 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 1.55.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Friday, February 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.45. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the business posted ($10.16) earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. Equities research analysts forecast that Advance Auto Parts will post 2.77 earnings per share for the current year.

Hedge Funds Weigh In On Advance Auto Parts

A number of institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in shares of Advance Auto Parts by 559.0% in the 3rd quarter. American Century Companies Inc. now owns 1,519,591 shares of the company’s stock valued at $93,303,000 after acquiring an additional 1,288,986 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Advance Auto Parts by 18.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,474,546 shares of the company’s stock worth $293,751,000 after buying an additional 1,190,094 shares during the period. Maple Rock Capital Partners Inc. increased its position in Advance Auto Parts by 508.2% during the third quarter. Maple Rock Capital Partners Inc. now owns 951,790 shares of the company’s stock valued at $58,440,000 after acquiring an additional 795,290 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Advance Auto Parts in the third quarter valued at $33,610,000. Finally, Private Management Group Inc. purchased a new stake in shares of Advance Auto Parts in the fourth quarter valued at $20,123,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Company Profile

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.