Citigroup Cuts Rating of Advance Auto Parts (NYSE:AAP) To “Sell”. The TP is Set to $82.0

September 17, 2017 - By Dolores Ford

  Citigroup Cuts Rating of Advance Auto Parts (NYSE:AAP) To

Investors sentiment increased to 1.05 in 2016 Q4. Its up 0.03, from 1.02 in 2016Q3. It improved, as 50 investors sold Advance Auto Parts, Inc. shares while 161 reduced holdings. 75 funds opened positions while 146 raised stakes. 71.45 million shares or 0.43% less from 71.76 million shares in 2016Q3 were reported.

United Kingdom-based Legal And General Gp Public Ltd Liability has invested 0.05% in Advance Auto Parts, Inc. (NYSE:AAP). Boothbay Fund Mngmt Ltd Limited Liability Company has invested 0.11% in Advance Auto Parts, Inc. (NYSE:AAP). Nordea Mgmt Ab has 0% invested in Advance Auto Parts, Inc. (NYSE:AAP) for 3,619 shares. Toronto Dominion Comml Bank invested 0.01% in Advance Auto Parts, Inc. (NYSE:AAP). Cullinan Assoc holds 20,700 shares or 0.3% of its portfolio. Voya Inv Management Ltd holds 48,694 shares. Century owns 1.33M shares. Dimensional Fund Ltd Partnership holds 0.03% in Advance Auto Parts, Inc. (NYSE:AAP) or 344,300 shares. Old Mutual Customised Solutions (Proprietary) invested in 0.07% or 2,100 shares. Advantus Capital Mgmt Inc stated it has 0.03% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Fmr Ltd Liability Corp invested 0.02% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). 48,336 are held by Glenmede Company Na. 1832 Asset Mgmt Lp holds 182,019 shares or 0.1% of its portfolio. Quantitative Investment Ltd Liability Corp reported 0.33% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Picton Mahoney Asset Mgmt stated it has 0.21% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP).

Since March 20, 2017, it had 6 insider buys, and 0 sales for $49.68 million activity. Shares for $250,481 were bought by LEE EUGENE I JR on Friday, May 26. Carter William Harrison sold $411,113 worth of stock or 2,690 shares. 16,000 shares were bought by Greco Thomas, worth $2.15 million on Friday, May 26. Karaboutis Adriana bought $49,648 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Thursday, June 1. $47.00 million worth of Advance Auto Parts, Inc. (NYSE:AAP) was bought by Smith Jeffrey C on Friday, May 26. The insider Slone Reuben E bought 500 shares worth $67,435.

Advance Auto Parts (NYSE:AAP) Receives a Downgrade

Advance Auto Parts (NYSE:AAP)‘s rating has just been decreased by stock analysts at Citigroup to a “Sell”. They now have a price target of $82.0 on AAP. This price target suggests a possible downside of -17.60 % from the last stock price of the stock.

Investors sentiment increased to 1.05 in 2016 Q4. Its up 0.03, from 1.02 in 2016Q3. It improved, as 50 investors sold Advance Auto Parts, Inc. shares while 161 reduced holdings. 75 funds opened positions while 146 raised stakes. 71.45 million shares or 0.43% less from 71.76 million shares in 2016Q3 were reported.

United Kingdom-based Legal And General Gp Public Ltd Liability has invested 0.05% in Advance Auto Parts, Inc. (NYSE:AAP). Boothbay Fund Mngmt Ltd Limited Liability Company has invested 0.11% in Advance Auto Parts, Inc. (NYSE:AAP). Nordea Mgmt Ab has 0% invested in Advance Auto Parts, Inc. (NYSE:AAP) for 3,619 shares. Toronto Dominion Comml Bank invested 0.01% in Advance Auto Parts, Inc. (NYSE:AAP). Cullinan Assoc holds 20,700 shares or 0.3% of its portfolio. Voya Inv Management Ltd holds 48,694 shares. Century owns 1.33M shares. Dimensional Fund Ltd Partnership holds 0.03% in Advance Auto Parts, Inc. (NYSE:AAP) or 344,300 shares. Old Mutual Customised Solutions (Proprietary) invested in 0.07% or 2,100 shares. Advantus Capital Mgmt Inc stated it has 0.03% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Fmr Ltd Liability Corp invested 0.02% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). 48,336 are held by Glenmede Company Na. 1832 Asset Mgmt Lp holds 182,019 shares or 0.1% of its portfolio. Quantitative Investment Ltd Liability Corp reported 0.33% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Picton Mahoney Asset Mgmt stated it has 0.21% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP).

Since March 20, 2017, it had 6 insider buys, and 0 sales for $49.68 million activity. Shares for $250,481 were bought by LEE EUGENE I JR on Friday, May 26. Carter William Harrison sold $411,113 worth of stock or 2,690 shares. 16,000 shares were bought by Greco Thomas, worth $2.15 million on Friday, May 26. Karaboutis Adriana bought $49,648 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Thursday, June 1. $47.00 million worth of Advance Auto Parts, Inc. (NYSE:AAP) was bought by Smith Jeffrey C on Friday, May 26. The insider Slone Reuben E bought 500 shares worth $67,435.

Advance Auto Parts, Inc. (NYSE:AAP) Ratings Coverage

Among 25 analysts covering Advance Auto Parts Inc. (NYSE:AAP), 13 have Buy rating, 3 Sell and 9 Hold. Therefore 52% are positive. Advance Auto Parts Inc. has $217 highest and $77 lowest target. $145.94’s average target is 46.66% above currents $99.51 stock price. Advance Auto Parts Inc. had 75 analyst reports since August 5, 2015 according to SRatingsIntel. The rating was downgraded by Raymond James to “Market Perform” on Thursday, May 5. The company was maintained on Tuesday, May 2 by RBC Capital Markets. Deutsche Bank maintained the shares of AAP in report on Friday, February 12 with “Buy” rating. Barclays Capital maintained Advance Auto Parts, Inc. (NYSE:AAP) on Wednesday, August 16 with “Underweight” rating. The company was maintained on Friday, February 5 by UBS. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Hold” rating by Evercore on Wednesday, August 5. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Outperform” rating by RBC Capital Markets on Friday, August 14. The rating was maintained by Citigroup with “Neutral” on Friday, May 20. The firm earned “Sell” rating on Thursday, June 22 by BTIG Research. The stock has “Outperform” rating by Wedbush on Friday, February 12.

The stock decreased 0.51% or $0.51 on September 15, reaching $99.51. It is down 5.52% since September 17, 2016 and is uptrending. It has underperformed by 11.18% the S&P500.

Investors wait Advance Auto Parts, Inc. (NYSE:AAP) to report on November, 13. its quarterly earnings Wall Street analysts expect $1.24 EPS, down $0.49 or 28.32 % from last year’s $1.73 same quarter earnings. This translates into $91.59M profit for AAP giving the stock a 20.06 P/E. This is assuming the current $1.24 EPS is accurate. Advance Auto Parts, Inc.’s Wall Street analysts see -21.52 % negative EPS growth, taking into account the $1.58 EPS reproted in the previous quarter,

Advance Auto Parts, Inc. provides automotive aftermarket parts in North America, serving do-it-for-me and do-it-yourself (DIY), customers. The company has market cap of $7.35 billion. The Company’s stores and branches offer a selection of brand name, original equipment maker (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks. It has a 19.87 P/E ratio. It serves through various channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites.

More notable recent Advance Auto Parts, Inc. (NYSE:AAP) news were published by: Benzinga.com which released: “The Auto Parts Trade: AutoZone Vs. Advance Vs. O’Reilly” on September 05, 2017, also Prnewswire.com with their article: “Stock Performance Review on Services Sector — AutoZone, O’Reilly Automotive …” published on September 08, 2017, Benzinga.com published: “Jim Cramer Gives His Opinion On Advance Auto Parts And Petmed Express” on August 23, 2017. More interesting news about Advance Auto Parts, Inc. (NYSE:AAP) were released by: Barrons.com and their article: “A Fender Bender for Advance Auto” published on August 19, 2017 as well as Zacks.com‘s news article titled: “Should You Get Rid of Advance Auto Parts (AAP) Now? September 13, 2017” with publication date: September 13, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.