Advance Auto Parts (NYSE:AAP) May Have Just Reached An Inflection Point; Citigroup Downgrades Shares

September 17, 2017 - By Clifton Ray

  Advance Auto Parts (NYSE:AAP) May Have Just Reached An Inflection Point; Citigroup Downgrades Shares

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.

State Street invested in 0.06% or 3.54 million shares. 10,075 were reported by Mason Street Advisors Llc. Johnson Financial Inc accumulated 1,298 shares or 0.04% of the stock. Peak6 Investments Ltd Partnership, Illinois-based fund reported 5,894 shares. Ledyard Bankshares stated it has 0% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Slate Path Capital L P has invested 4.5% in Advance Auto Parts, Inc. (NYSE:AAP). Segall Bryant & Hamill Ltd reported 7,626 shares. Samlyn Limited Liability Company has invested 0.37% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Alta Cap Management Ltd Liability Company reported 1.65% in Advance Auto Parts, Inc. (NYSE:AAP). Stifel Financial has invested 0.01% in Advance Auto Parts, Inc. (NYSE:AAP). Commonwealth National Bank & Trust Of holds 0% or 534 shares in its portfolio. The California-based Advisor Ptnrs Limited Liability has invested 0.07% in Advance Auto Parts, Inc. (NYSE:AAP). Jennison Associate Ltd Limited Liability Company invested 0% in Advance Auto Parts, Inc. (NYSE:AAP). State Of Tennessee Treasury Department has 0.02% invested in Advance Auto Parts, Inc. (NYSE:AAP) for 22,922 shares. Fifth Third Savings Bank invested 0% in Advance Auto Parts, Inc. (NYSE:AAP).

Since March 20, 2017, it had 6 insider buys, and 0 selling transactions for $49.68 million activity. 2,690 shares were sold by Carter William Harrison, worth $411,113 on Monday, March 20. On Friday, May 26 the insider Greco Thomas bought $2.15M. Karaboutis Adriana also bought $49,648 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Thursday, June 1. 1,895 shares were bought by LEE EUGENE I JR, worth $250,481. Buss Brad W bought $161,364 worth of stock or 1,200 shares. 350,000 shares were bought by Smith Jeffrey C, worth $47.00M on Friday, May 26.

Advance Auto Parts (NYSE:AAP) Receives a Downgrade

Just today Advance Auto Parts (NYSE:AAP) has been decreased by expert analysts working for Citigroup to a solid “Sell” rating. This was announced in a a report issued to investors and clients on Tuesday, 12 September. The firm now has a $82.0 target price on shares. Citigroup’s target price would suggest a possible downside of -17.60 %.

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.

State Street invested in 0.06% or 3.54 million shares. 10,075 were reported by Mason Street Advisors Llc. Johnson Financial Inc accumulated 1,298 shares or 0.04% of the stock. Peak6 Investments Ltd Partnership, Illinois-based fund reported 5,894 shares. Ledyard Bankshares stated it has 0% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Slate Path Capital L P has invested 4.5% in Advance Auto Parts, Inc. (NYSE:AAP). Segall Bryant & Hamill Ltd reported 7,626 shares. Samlyn Limited Liability Company has invested 0.37% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Alta Cap Management Ltd Liability Company reported 1.65% in Advance Auto Parts, Inc. (NYSE:AAP). Stifel Financial has invested 0.01% in Advance Auto Parts, Inc. (NYSE:AAP). Commonwealth National Bank & Trust Of holds 0% or 534 shares in its portfolio. The California-based Advisor Ptnrs Limited Liability has invested 0.07% in Advance Auto Parts, Inc. (NYSE:AAP). Jennison Associate Ltd Limited Liability Company invested 0% in Advance Auto Parts, Inc. (NYSE:AAP). State Of Tennessee Treasury Department has 0.02% invested in Advance Auto Parts, Inc. (NYSE:AAP) for 22,922 shares. Fifth Third Savings Bank invested 0% in Advance Auto Parts, Inc. (NYSE:AAP).

Since March 20, 2017, it had 6 insider buys, and 0 selling transactions for $49.68 million activity. 2,690 shares were sold by Carter William Harrison, worth $411,113 on Monday, March 20. On Friday, May 26 the insider Greco Thomas bought $2.15M. Karaboutis Adriana also bought $49,648 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Thursday, June 1. 1,895 shares were bought by LEE EUGENE I JR, worth $250,481. Buss Brad W bought $161,364 worth of stock or 1,200 shares. 350,000 shares were bought by Smith Jeffrey C, worth $47.00M on Friday, May 26.

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 firm has “Outperform” rating given on Friday, August 14 by RBC Capital Markets. RBC Capital Markets maintained the shares of AAP in report on Thursday, September 8 with “Outperform” rating. On Tuesday, September 5 the stock rating was maintained by Bank of America with “Underperform”. The rating was maintained by Deutsche Bank with “Buy” on Wednesday, August 17. BTIG Research downgraded the shares of AAP in report on Thursday, July 13 to “Sell” rating. UBS maintained Advance Auto Parts, Inc. (NYSE:AAP) rating on Wednesday, August 5. UBS has “Buy” rating and $200 target. Bank of America maintained Advance Auto Parts, Inc. (NYSE:AAP) rating on Wednesday, August 16. Bank of America has “Underperform” rating and $77 target. The stock of Advance Auto Parts, Inc. (NYSE:AAP) has “Neutral” rating given on Wednesday, January 18 by Guggenheim. As per Tuesday, November 15, the company rating was upgraded by Susquehanna. The firm has “Hold” rating by Gabelli given on Friday, April 15.

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.

Wall Street await Advance Auto Parts, Inc. (NYSE:AAP) to release earnings on November, 13. Analysts forecast earnings per share of $1.24, down exactly $0.49 or 28.32 % from 2014’s $1.73 EPS. The expected AAP’s profit could reach $91.59M giving the stock 20.06 P/E in the case that $1.24 earnings per share is reported. After posting $1.58 EPS for the previous quarter, Advance Auto Parts, Inc.’s analysts now forecast -21.52 % negative EPS growth.

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: Barrons.com which released: “A Fender Bender for Advance Auto” on August 19, 2017, also Seekingalpha.com with their article: “Advance Auto Parts: Buy This Turnaround Story While Shares Are Cheap” published on August 30, 2017, Zacks.com published: “Should You Get Rid of Advance Auto Parts (AAP) Now? September 13, 2017” on September 13, 2017. More interesting news about Advance Auto Parts, Inc. (NYSE:AAP) were released by: Prnewswire.com and their article: “Stock Performance Review on Services Sector — AutoZone, O’Reilly Automotive …” published on September 08, 2017 as well as Nasdaq.com‘s news article titled: “Advance Auto Parts (AAP) Up 14.9% Since Earnings Report: Can It Continue?” with publication date: September 15, 2017.

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