TD Cowen Has Lowered Expectations for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP) had its price objective cut by TD Cowen from $62.00 to $46.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential upside of 1.08% from the stock’s current price.

Other analysts have also issued reports about the stock. UBS Group set a $40.00 price objective on shares of Advance Auto Parts in a report on Thursday, October 30th. Citigroup decreased their target price on Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Morgan Stanley lowered their target price on Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Cfra Research raised Advance Auto Parts to a “hold” rating in a research note on Thursday, October 30th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Advance Auto Parts in a report on Monday, October 27th. Three analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and an average target price of $50.08.

Advance Auto Parts Stock Performance

Shares of NYSE AAP opened at $45.51 on Tuesday. The stock’s 50-day moving average is $45.54 and its 200 day moving average is $53.32. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -7.23 and a beta of 1.14. Advance Auto Parts has a 1-year low of $28.89 and a 1-year high of $70.00. The company has a current ratio of 1.73, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, October 30th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Advance Auto Parts had a negative net margin of 4.37% and a positive return on equity of 0.64%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. On average, sell-side analysts anticipate that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kristen L. Soler sold 7,662 shares of Advance Auto Parts stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $51.00, for a total value of $390,762.00. Following the completion of the sale, the executive vice president directly owned 23,165 shares in the company, valued at approximately $1,181,415. This trade represents a 24.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

Hedge funds have recently bought and sold shares of the company. REAP Financial Group LLC bought a new position in shares of Advance Auto Parts in the second quarter worth about $26,000. Salomon & Ludwin LLC purchased a new stake in Advance Auto Parts in the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Advance Auto Parts during the 3rd quarter worth approximately $31,000. AlphaCore Capital LLC lifted its holdings in Advance Auto Parts by 6,288.9% during the third quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock valued at $35,000 after purchasing an additional 566 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Advance Auto Parts by 290.3% during the second quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock valued at $43,000 after purchasing an additional 688 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.