Evercore ISI Issues Pessimistic Forecast for Advance Auto Parts (NYSE:AAP) Stock Price

Advance Auto Parts (NYSE:AAP) had its price objective lowered by investment analysts at Evercore ISI from $37.00 to $35.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price objective would suggest a potential downside of 5.13% from the stock’s current price.

A number of other analysts have also issued reports on AAP. DA Davidson reissued a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. Wells Fargo & Company lifted their price objective on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. The Goldman Sachs Group reduced their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research note on Monday, March 3rd. Finally, Citigroup reduced their price objective on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and an average target price of $45.13.

Advance Auto Parts Trading Up 0.9 %

NYSE AAP traded up $0.31 during trading hours on Tuesday, reaching $36.89. The company had a trading volume of 893,773 shares, compared to its average volume of 2,285,703. The stock has a 50-day moving average of $44.78 and a 200 day moving average of $42.45. The stock has a market capitalization of $2.21 billion, a P/E ratio of 50.66, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. Advance Auto Parts has a 1-year low of $33.08 and a 1-year high of $88.56. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Insider Buying and Selling

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. bought 14,640 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. The trade was a 75.35 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Institutional Trading of Advance Auto Parts

A number of large investors have recently bought and sold shares of the business. Eminence Capital LP purchased a new position in shares of Advance Auto Parts during the fourth quarter worth about $87,214,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Advance Auto Parts by 34.3% in 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 purchasing an additional 1,706,328 shares during the period. Pzena Investment Management LLC raised its stake in shares of Advance Auto Parts by 140.3% during the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after purchasing an additional 1,698,155 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth $75,055,000. Finally, Marshall Wace LLP increased its stake in Advance Auto Parts by 2,585.1% in the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company’s stock valued at $64,026,000 after buying an additional 1,303,488 shares during the period. Institutional investors and hedge funds 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.