Advance Auto Parts (NYSE:AAP) Trading Down 4.8% – What’s Next?

Advance Auto Parts, Inc. (NYSE:AAP)’s stock price traded down 4.8% on Tuesday . The stock traded as low as $46.28 and last traded at $45.58. 116,476 shares were traded during trading, a decline of 93% from the average session volume of 1,592,865 shares. The stock had previously closed at $47.87.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. UBS Group lifted their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Barclays lowered their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Truist Financial cut their price target on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday, November 15th. Finally, BMO Capital Markets initiated coverage on Advance Auto Parts in a research report on Friday, December 13th. They issued a “market perform” rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and a consensus target price of $47.93.

Advance Auto Parts Stock Performance

The company’s fifty day moving average price is $46.29 and its two-hundred day moving average price is $44.63. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The firm has a market capitalization of $2.67 billion, a PE ratio of 61.25, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Advance Auto Parts by 34.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company’s stock valued at $316,160,000 after acquiring an additional 1,706,328 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Advance Auto Parts by 11.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company’s stock worth $163,129,000 after purchasing an additional 347,587 shares during the period. Pzena Investment Management LLC grew its holdings in shares of Advance Auto Parts by 12.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company’s stock worth $154,681,000 after purchasing an additional 362,239 shares during the period. Dimensional Fund Advisors LP increased its position in Advance Auto Parts by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company’s stock worth $129,016,000 after purchasing an additional 297,741 shares in the last quarter. Finally, Eminence Capital LP purchased a new position in Advance Auto Parts in the fourth quarter valued at approximately $87,214,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

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.