Redburn Partners Upgrades Advance Auto Parts (NYSE:AAP) to Neutral

Advance Auto Parts (NYSE:AAP - Get Free Report) was upgraded by investment analysts at Redburn Partners from a "sell" rating to a "neutral" rating in a note issued to investors on Tuesday, Stock Target Advisor reports. The firm currently has a $45.00 price target on the stock. Redburn Partners' price objective suggests a potential downside of 12.99% from the stock's previous close.

Several other equities analysts have also issued reports on the company. Morgan Stanley lifted their price target on Advance Auto Parts from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Citigroup dropped their price target on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. DA Davidson increased their price objective on Advance Auto Parts from $45.00 to $47.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. BMO Capital Markets reissued a "market perform" rating and set a $50.00 price objective (up from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Finally, Raymond James 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. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $46.01.

Advance Auto Parts Trading Down 0.5%

NYSE AAP traded down $0.25 during trading on Tuesday, reaching $51.72. 1,984,009 shares of the stock traded hands, compared to its average volume of 2,461,409. The stock's 50-day moving average price is $36.54 and its 200 day moving average price is $40.96. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 70.85, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $67.03.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.59. The business had revenue of $2.58 billion for the quarter, compared to analysts' expectations of $2.51 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm's revenue was down 24.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. Analysts predict that Advance Auto Parts will post -0.46 EPS for the current year.

Insider Transactions at Advance Auto Parts

In other news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This represents a 75.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Shane M. Okelly bought 1,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares of the company's stock, valued at $6,737,021.59. This trade represents a 0.83% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company's stock.

Institutional Investors Weigh In On Advance Auto Parts

Several institutional investors have recently bought and sold shares of AAP. Hexagon Capital Partners LLC raised its holdings in Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after acquiring an additional 465 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after buying an additional 818 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of Advance Auto Parts during the fourth quarter valued at approximately $42,000. Advisory Services Network LLC acquired a new position in shares of Advance Auto Parts during the fourth quarter valued at approximately $46,000. Finally, Financial Management Professionals Inc. acquired a new position in Advance Auto Parts in the first quarter worth approximately $49,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

About Advance Auto Parts

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.