DA Davidson Issues Positive Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP - Get Free Report) had its price target boosted by investment analysts at DA Davidson from $45.00 to $47.00 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. DA Davidson's target price would indicate a potential downside of 1.61% from the stock's current price.

Several other equities research analysts have also recently weighed in on the stock. Wedbush reiterated an "outperform" rating and set a $55.00 price objective on shares of Advance Auto Parts in a research report on Monday, March 3rd. Citigroup decreased their price objective on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Evercore ISI raised their price target on shares of Advance Auto Parts from $35.00 to $45.00 and gave the company an "in-line" rating in a research report on Friday. Truist Financial cut their target price on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of Advance Auto Parts in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Advance Auto Parts presently has an average rating of "Hold" and an average target price of $45.35.

Advance Auto Parts Stock Down 2.9%

AAP traded down $1.40 during trading on Friday, hitting $47.77. The company had a trading volume of 5,877,555 shares, compared to its average volume of 2,586,716. The company has a market capitalization of $2.86 billion, a PE ratio of 65.07, a PEG ratio of 1.98 and a beta of 0.93. Advance Auto Parts has a one year low of $28.89 and a one year high of $71.62. The firm's 50-day moving average price is $34.41 and its 200 day moving average price is $40.30. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the business posted $0.67 EPS. Advance Auto Parts's revenue was down 24.2% on a year-over-year basis. As a group, equities analysts expect that Advance Auto Parts will post -0.46 earnings per share for the current year.

Insider Buying and Selling at Advance Auto Parts

In related news, CEO Shane M. Okelly bought 1,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $36.79 per share, with a total value of $55,185.00. Following the purchase, the chief executive officer now directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the purchase, the director now directly owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This trade represents a 75.35% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AAP. Price T Rowe Associates Inc. MD grew its stake in shares of Advance Auto Parts by 34.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock valued at $316,160,000 after purchasing an additional 1,706,328 shares during the last quarter. Pzena Investment Management LLC boosted its position in Advance Auto Parts by 31.8% during the first quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company's stock worth $169,093,000 after purchasing an additional 1,041,611 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Advance Auto Parts by 3.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,552,475 shares of the company's stock worth $139,293,000 after buying an additional 102,921 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Advance Auto Parts by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock valued at $107,500,000 after acquiring an additional 13,412 shares during the last quarter. Finally, Eminence Capital LP acquired a new stake in shares of Advance Auto Parts in the fourth quarter valued at approximately $87,214,000. Institutional investors and hedge funds own 88.75% of the company's stock.

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.

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