Advance Auto Parts (NYSE:AAP) Given New $55.00 Price Target at Truist Financial

Advance Auto Parts (NYSE:AAP) had its price target cut by stock analysts at Truist Financial from $57.00 to $55.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 10.90% from the company’s current price.

Other analysts also recently issued reports about the company. Royal Bank Of Canada decreased their target price on Advance Auto Parts from $63.00 to $62.00 and set a “sector perform” rating for the company in a research report on Tuesday. BMO Capital Markets upped their price target on shares of Advance Auto Parts from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, February 17th. Evercore set a $60.00 price objective on shares of Advance Auto Parts in a report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, January 21st. Finally, UBS Group restated a “neutral” rating on shares of Advance Auto Parts in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $52.88.

Advance Auto Parts Trading Down 5.7%

Shares of AAP traded down $3.03 during mid-day trading on Wednesday, reaching $49.60. 337,936 shares of the company’s stock traded hands, compared to its average volume of 1,710,825. The stock has a market cap of $2.99 billion, a P/E ratio of 67.90, a P/E/G ratio of 0.91 and a beta of 1.06. The stock’s 50-day moving average is $53.92 and its two-hundred day moving average is $50.51. Advance Auto Parts has a 12 month low of $31.28 and a 12 month high of $70.00. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.75 and a quick ratio of 0.87.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Friday, February 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.45. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the company earned ($10.16) EPS. Advance Auto Parts’s quarterly revenue was down 1.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. Research analysts forecast that Advance Auto Parts will post 2.77 earnings per share for the current fiscal year.

Institutional Trading of Advance Auto Parts

Several institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in Advance Auto Parts by 559.0% in the third quarter. American Century Companies Inc. now owns 1,519,591 shares of the company’s stock worth $93,303,000 after acquiring an additional 1,288,986 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Advance Auto Parts by 18.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,474,546 shares of the company’s stock worth $293,751,000 after acquiring an additional 1,190,094 shares in the last quarter. Maple Rock Capital Partners Inc. increased its position in Advance Auto Parts by 508.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 951,790 shares of the company’s stock valued at $58,440,000 after purchasing an additional 795,290 shares during the period. Wellington Management Group LLP bought a new stake in shares of Advance Auto Parts in the 3rd quarter valued at about $33,610,000. Finally, Private Management Group Inc. purchased a new stake in shares of Advance Auto Parts in the 4th quarter worth approximately $20,123,000. 88.70% of the stock is currently owned by institutional investors.

About Advance Auto Parts

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.