Advance Auto Parts (NYSE:AAP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Advance Auto Parts (NYSE:AAP) had its price target hoisted by investment analysts at Wells Fargo & Company from $45.00 to $50.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 12.08% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. DA Davidson set a $65.00 target price on shares of Advance Auto Parts in a research note on Thursday. Citigroup set a $60.00 price objective on Advance Auto Parts in a report on Thursday. UBS Group set a $65.00 target price on Advance Auto Parts and gave the company a “neutral” rating in a research note on Tuesday. Redburn Atlantic raised Advance Auto Parts from a “sell” rating to a “neutral” rating and upped their target price for the stock from $28.00 to $45.00 in a research report on Tuesday, June 3rd. Finally, Roth Capital set a $50.00 price target on Advance Auto Parts and gave the company a “neutral” rating in a report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and an average price target of $51.01.

Advance Auto Parts Trading Up 0.0%

Shares of NYSE AAP opened at $56.87 on Friday. Advance Auto Parts has a one year low of $28.89 and a one year high of $70.00. The firm has a market capitalization of $3.41 billion, a PE ratio of -8.93 and a beta of 1.05. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $55.15 and a two-hundred day moving average price of $44.66.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, August 14th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, analysts predict that Advance Auto Parts will post -0.46 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Jason Hand sold 948 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $48.52, for a total value of $45,996.96. Following the transaction, the senior vice president owned 9,876 shares in the company, valued at approximately $479,183.52. The trade was a 8.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Advance Auto Parts

Several institutional investors and hedge funds have recently made changes to their positions in AAP. REAP Financial Group LLC acquired a new position in Advance Auto Parts in the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its position in shares of 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. Smartleaf Asset Management LLC boosted its stake in Advance Auto Parts by 290.3% during the second quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock worth $43,000 after acquiring an additional 688 shares in the last quarter. Parallel Advisors LLC grew its holdings in Advance Auto Parts by 355.8% in the second quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock worth $44,000 after purchasing an additional 733 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Advance Auto Parts in the fourth quarter worth $46,000. 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.