Advance Auto Parts (NYSE:AAP) Downgraded to "Sell" Rating by Wall Street Zen

Advance Auto Parts (NYSE:AAP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

Several other equities research analysts also recently commented on AAP. Bank of America upped their price objective on shares of Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. BMO Capital Markets restated a "market perform" rating and set a $50.00 price target (up from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Cowen reiterated a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Wedbush reissued an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Finally, Raymond James Financial raised their price target on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a report on Monday, May 26th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Advance Auto Parts presently has an average rating of "Hold" and an average target price of $46.25.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $46.42 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -7.91 and a beta of 1.06. Advance Auto Parts has a 52 week low of $28.89 and a 52 week high of $64.92. The firm's 50-day simple moving average is $41.93 and its two-hundred day simple moving average is $41.74.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The company had revenue of $2.58 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. Advance Auto Parts's revenue was down 24.2% on a year-over-year basis. As a group, equities analysts forecast that Advance Auto Parts will post -0.46 earnings per share for the current year.

Insider Transactions at Advance Auto Parts

In related news, SVP Jason Hand sold 948 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the transaction, the senior vice president now directly owns 9,876 shares of the company's stock, valued at approximately $479,183.52. This trade represents a 8.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advance Auto Parts

A number of institutional investors have recently made changes to their positions in the business. Central Pacific Bank Trust Division lifted its stake in Advance Auto Parts by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock worth $129,000 after purchasing an additional 300 shares during the last quarter. Sovran Advisors LLC increased its holdings in shares of Advance Auto Parts by 4.3% in the first quarter. Sovran Advisors LLC now owns 7,822 shares of the company's stock worth $307,000 after buying an additional 322 shares during the period. Studio Investment Management LLC lifted its stake in shares of Advance Auto Parts by 6.7% in the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock valued at $263,000 after acquiring an additional 350 shares during the last quarter. Investors Research Corp lifted its stake in shares of Advance Auto Parts by 7.1% in the 1st quarter. Investors Research Corp now owns 5,625 shares of the company's stock valued at $221,000 after acquiring an additional 375 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after acquiring an additional 465 shares during the period. Hedge funds and other institutional investors own 88.75% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.