Advance Auto Parts (NYSE:AAP) Receives “Neutral” Rating from DA Davidson

DA Davidson reissued their neutral rating on shares of Advance Auto Parts (NYSE:AAP) in a research report report published on Thursday morning,Benzinga reports. DA Davidson currently has a $47.00 target price on the stock.

Several other brokerages have also issued reports on AAP. UBS Group set a $40.00 price target on shares of Advance Auto Parts in a report on Thursday, October 30th. TD Cowen cut their target price on shares of Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th. Royal Bank Of Canada decreased their target price on shares of Advance Auto Parts from $60.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Citigroup upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.70.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $52.95 on Thursday. Advance Auto Parts has a twelve month low of $28.89 and a twelve month high of $70.00. The company has a quick ratio of 0.88, a current ratio of 1.73 and a debt-to-equity ratio of 1.55. The stock’s 50-day simple moving average is $45.30 and its 200 day simple moving average is $52.55. The firm has a market capitalization of $3.18 billion, a PE ratio of -8.42 and a beta of 1.14.

Insider Buying and Selling at Advance Auto Parts

In related news, EVP Kristen L. Soler sold 7,662 shares of the stock in a transaction on 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 $1,181,415. This represents a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate 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 shares of Advance Auto Parts in the second quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new position in Advance Auto Parts during the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Advance Auto Parts in the 3rd quarter worth approximately $31,000. AlphaCore Capital LLC lifted its position in shares of Advance Auto Parts by 6,288.9% in the 3rd quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock worth $35,000 after purchasing an additional 566 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Advance Auto Parts by 290.3% in the 2nd quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock valued at $43,000 after purchasing an additional 688 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Advance Auto Parts

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.