Advance Auto Parts (NYSE:AAP) Price Target Raised to $47.00 at Citigroup

Advance Auto Parts (NYSE:AAP) had its price target boosted by Citigroup from $44.00 to $47.00 in a research report released on Friday morning, MarketBeat.com reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on AAP. BMO Capital Markets assumed coverage on Advance Auto Parts in a report on Friday, December 13th. They set a “market perform” rating and a $45.00 price target for the company. UBS Group lifted their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Evercore ISI lifted their price target on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada dropped their price target on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Finally, DA Davidson reissued a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.88.

Advance Auto Parts Stock Performance

AAP opened at $43.46 on Friday. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 59.53, a PEG ratio of 2.02 and a beta of 1.15. The business has a 50 day moving average of $46.21 and a 200-day moving average of $44.20. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Insider Activity

In other news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Advance Auto Parts

A number of institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Advance Auto Parts in the 3rd quarter worth about $14,684,000. Wolverine Asset Management LLC boosted its position in shares of Advance Auto Parts by 212.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock valued at $1,223,000 after purchasing an additional 21,320 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Advance Auto Parts by 75.9% during the 4th quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock valued at $100,000 after purchasing an additional 914 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Advance Auto Parts during the 3rd quarter valued at about $579,000. Finally, Moody National Bank Trust Division bought a new stake in shares of Advance Auto Parts during the 4th quarter valued at about $1,196,000. 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.