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

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Truist Financial dropped their price target on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada dropped their price objective on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. Barclays reduced their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. UBS Group upped their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group reduced their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.93.

Advance Auto Parts Stock Performance

The firm has a market cap of $2.65 billion, a PE ratio of 60.85, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. The company has a 50 day simple moving average of $46.22 and a 200-day simple moving average of $44.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Insider Activity

In other news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eminence Capital LP bought a new stake in Advance Auto Parts in the 4th quarter worth $87,214,000. Price T Rowe Associates Inc. MD grew its stake 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 worth $316,160,000 after purchasing an additional 1,706,328 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Advance Auto Parts by 140.3% during the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after purchasing an additional 1,698,155 shares during the period. Cooper Creek Partners Management LLC bought a new position in Advance Auto Parts during the 4th quarter valued at approximately $75,055,000. Finally, Marshall Wace LLP raised its position in Advance Auto Parts by 2,585.1% during the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company’s stock valued at $64,026,000 after purchasing an additional 1,303,488 shares during the last quarter. Institutional investors 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.