Advance Auto Parts (NYSE:AAP) Given New $43.00 Price Target at The Goldman Sachs Group

Advance Auto Parts (NYSE:AAP) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $60.00 to $43.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 4.50% from the stock’s previous close.

Several other analysts have also recently commented on the company. Evercore ISI lowered their target price on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. dropped their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Royal Bank of Canada decreased their price objective on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a report on Monday. Finally, Truist Financial dropped their target price on Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus price target of $51.77.

Advance Auto Parts Stock Up 0.5 %

NYSE:AAP opened at $41.15 on Friday. The stock has a 50-day simple moving average of $39.06 and a 200 day simple moving average of $54.63. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 4,115.00, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts predict that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Institutional Trading of Advance Auto Parts

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Advance Auto Parts during the first quarter worth $34,000. Oppenheimer & Co. Inc. bought a new position in Advance Auto Parts during the 1st quarter worth about $292,000. Sei Investments Co. raised its stake in shares of Advance Auto Parts by 0.6% in the 1st quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock valued at $5,055,000 after purchasing an additional 352 shares during the period. US Bancorp DE lifted its holdings in shares of Advance Auto Parts by 10.3% in the first quarter. US Bancorp DE now owns 12,767 shares of the company’s stock valued at $1,086,000 after purchasing an additional 1,197 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of Advance Auto Parts during the first quarter worth about $207,000. Institutional investors own 88.75% of the company’s stock.

About Advance Auto Parts

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.