Advance Auto Parts (NYSE:AAP) Given New $56.00 Price Target at Evercore ISI

Advance Auto Parts (NYSE:AAP) had its price target cut by stock analysts at Evercore ISI from $58.00 to $56.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 23.04% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. Wolfe Research started coverage on shares of Advance Auto Parts in a research note on Thursday, September 18th. They set a “peer perform” rating for the company. Morgan Stanley dropped their price objective on shares of Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Friday, October 31st. Finally, Cfra Research raised shares of Advance Auto Parts to a “hold” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, twenty have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Reduce” and a consensus price target of $51.68.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $45.52 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.73. The business’s fifty day moving average price is $51.32 and its two-hundred day moving average price is $54.91. The stock has a market cap of $2.73 billion, a PE ratio of -7.24 and a beta of 1.13. Advance Auto Parts has a one year low of $28.89 and a one year high of $70.00.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.18. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Advance Auto Parts had a positive return on equity of 0.64% and a negative net margin of 4.37%.The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. On average, analysts forecast that Advance Auto Parts will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kristen L. Soler sold 7,662 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,181,415. The trade was a 24.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers bought a new position in Advance Auto Parts during the first quarter worth $335,000. Charles Schwab Investment Management Inc. raised its stake in Advance Auto Parts by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 674,178 shares of the company’s stock worth $26,435,000 after acquiring an additional 24,259 shares during the period. Nuveen LLC bought a new position in Advance Auto Parts in the first quarter worth about $7,300,000. Russell Investments Group Ltd. boosted its stake in Advance Auto Parts by 82.1% in the first quarter. Russell Investments Group Ltd. now owns 267,729 shares of the company’s stock valued at $10,498,000 after acquiring an additional 120,709 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of Advance Auto Parts during the first quarter valued at approximately $382,000. Institutional investors and hedge funds own 88.70% 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.