Truist Financial Boosts Advance Auto Parts (NYSE:AAP) Price Target to $57.00

Advance Auto Parts (NYSE:AAP) had its price target boosted by equities research analysts at Truist Financial from $48.00 to $57.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential downside of 3.19% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada increased their price objective on Advance Auto Parts from $57.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday. Evercore set a $60.00 target price on shares of Advance Auto Parts in a research note on Wednesday, February 11th. Northcoast Research upgraded shares of Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, January 21st. BMO Capital Markets reaffirmed a “market perform” rating and set a $60.00 price objective on shares of Advance Auto Parts in a research report on Tuesday. Finally, Wells Fargo & Company increased their target price on shares of Advance Auto Parts from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Three investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $52.18.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $58.88 on Tuesday. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. The stock’s 50-day moving average is $46.01 and its two-hundred day moving average is $52.35. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.75 and a quick ratio of 0.87. The firm has a market cap of $3.53 billion, a P/E ratio of 80.66 and a beta of 1.14.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Friday, February 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.45. Advance Auto Parts had a net margin of 0.51% and a return on equity of 6.23%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the business posted ($10.16) EPS. Advance Auto Parts’s 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. Analysts predict that Advance Auto Parts will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Advance Auto Parts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its position in shares of Advance Auto Parts by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 2,811,675 shares of the company’s stock valued at $110,499,000 after acquiring an additional 117,648 shares during the period. State Street Corp raised its holdings in Advance Auto Parts by 3.9% in the fourth quarter. State Street Corp now owns 2,499,981 shares of the company’s stock worth $98,249,000 after purchasing an additional 92,861 shares during the period. American Century Companies Inc. boosted its position in shares of Advance Auto Parts by 559.0% during the third quarter. American Century Companies Inc. now owns 1,519,591 shares of the company’s stock worth $93,303,000 after purchasing an additional 1,288,986 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Advance Auto Parts by 30.5% in the 4th quarter. Royce & Associates LP now owns 1,478,633 shares of the company’s stock valued at $58,110,000 after buying an additional 345,217 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Advance Auto Parts by 48.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock valued at $65,867,000 after buying an additional 461,761 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.