Is Advance Auto Parts (NYSE:AAP) Now a Sell? Citigroup Downgrades Stock

September 17, 2017 - By Linda Rogers

  Is Advance Auto Parts (NYSE:AAP) Now a Sell? Citigroup Downgrades Stock

Investors sentiment increased to 1.05 in Q4 2016. Its up 0.03, from 1.02 in 2016Q3. It increased, 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.

Wellington Mngmt Gp Llp owns 5.78 million shares. Burney holds 0.03% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 2,225 shares. Millennium Ltd has invested 0.11% in Advance Auto Parts, Inc. (NYSE:AAP). Intact Invest Mngmt has invested 0.01% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Pictet Asset Mngmt reported 38,744 shares or 0.02% of all its holdings. National Bank holds 11,950 shares or 0.23% of its portfolio. Gam Holding Ag has invested 0.01% in Advance Auto Parts, Inc. (NYSE:AAP). California State Teachers Retirement System, California-based fund reported 147,269 shares. Cohen Capital Mngmt Inc owns 16,100 shares. Navellier & Associates Incorporated has invested 0.03% in Advance Auto Parts, Inc. (NYSE:AAP). Liberty Mutual Grp Asset Mgmt invested in 4,925 shares or 0.03% of the stock. Bnp Paribas Inv Prtnrs Sa owns 3,672 shares. Moreover, Kbc Group Nv has 0.05% invested in Advance Auto Parts, Inc. (NYSE:AAP). 29,298 were accumulated by Twin Tree Ltd Partnership. Atalanta Sosnoff Cap Ltd Limited Liability Company accumulated 110,394 shares.

Since March 20, 2017, it had 6 insider buys, and 0 insider sales for $49.68 million activity. Karaboutis Adriana bought $49,648 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Thursday, June 1. 1,895 shares valued at $250,481 were bought by LEE EUGENE I JR on Friday, May 26. Smith Jeffrey C also bought $47.00M worth of Advance Auto Parts, Inc. (NYSE:AAP) shares. 500 shares valued at $67,435 were bought by Slone Reuben E on Tuesday, May 30. 2,690 shares were sold by Carter William Harrison, worth $411,113. Buss Brad W also bought $161,364 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Tuesday, May 30.

Advance Auto Parts (NYSE:AAP) Receives a Downgrade

Citigroup has cut their stock rating for shares of Advance Auto Parts (NYSE:AAP) to a Sell in analysts report revealed on Tuesday morning, and has just set a 12-month target at $82.0. This target is -17.60 % from AAP’s current share price.

Investors sentiment increased to 1.05 in Q4 2016. Its up 0.03, from 1.02 in 2016Q3. It increased, 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.

Wellington Mngmt Gp Llp owns 5.78 million shares. Burney holds 0.03% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 2,225 shares. Millennium Ltd has invested 0.11% in Advance Auto Parts, Inc. (NYSE:AAP). Intact Invest Mngmt has invested 0.01% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Pictet Asset Mngmt reported 38,744 shares or 0.02% of all its holdings. National Bank holds 11,950 shares or 0.23% of its portfolio. Gam Holding Ag has invested 0.01% in Advance Auto Parts, Inc. (NYSE:AAP). California State Teachers Retirement System, California-based fund reported 147,269 shares. Cohen Capital Mngmt Inc owns 16,100 shares. Navellier & Associates Incorporated has invested 0.03% in Advance Auto Parts, Inc. (NYSE:AAP). Liberty Mutual Grp Asset Mgmt invested in 4,925 shares or 0.03% of the stock. Bnp Paribas Inv Prtnrs Sa owns 3,672 shares. Moreover, Kbc Group Nv has 0.05% invested in Advance Auto Parts, Inc. (NYSE:AAP). 29,298 were accumulated by Twin Tree Ltd Partnership. Atalanta Sosnoff Cap Ltd Limited Liability Company accumulated 110,394 shares.

Since March 20, 2017, it had 6 insider buys, and 0 insider sales for $49.68 million activity. Karaboutis Adriana bought $49,648 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Thursday, June 1. 1,895 shares valued at $250,481 were bought by LEE EUGENE I JR on Friday, May 26. Smith Jeffrey C also bought $47.00M worth of Advance Auto Parts, Inc. (NYSE:AAP) shares. 500 shares valued at $67,435 were bought by Slone Reuben E on Tuesday, May 30. 2,690 shares were sold by Carter William Harrison, worth $411,113. Buss Brad W also bought $161,364 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Tuesday, May 30.

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. Sterne Agee CRT maintained the stock with “Buy” rating in Friday, August 14 report. As per Wednesday, August 17, the company rating was maintained by Citigroup. Jefferies upgraded Advance Auto Parts, Inc. (NYSE:AAP) on Friday, July 7 to “Buy” rating. The company was maintained on Wednesday, August 16 by Barclays Capital. The firm earned “Hold” rating on Monday, June 26 by Jefferies. The stock of Advance Auto Parts, Inc. (NYSE:AAP) has “Overweight” rating given on Friday, May 20 by Morgan Stanley. The stock of Advance Auto Parts, Inc. (NYSE:AAP) has “Sector Perform” rating given on Wednesday, August 16 by RBC Capital Markets. UBS maintained Advance Auto Parts, Inc. (NYSE:AAP) on Friday, February 5 with “Buy” rating. On Thursday, August 24 the stock rating was maintained by UBS with “Buy”. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Equal Weight” rating by Barclays Capital on Monday, August 21.

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.

Analysts await Advance Auto Parts, Inc. (NYSE:AAP) to report earnings on November, 13. They expect $1.24 earnings per share, down 28.32 % or $0.49 from last year’s $1.73 per share. AAP’s profit will be $91.59M for 20.06 P/E if the $1.24 EPS becomes a reality. After $1.58 actual earnings per share reported by Advance Auto Parts, Inc. for the previous quarter, Wall Street now forecasts -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: Nasdaq.com which released: “Advance Auto Parts (AAP) Up 14.9% Since Earnings Report: Can It Continue?” on September 15, 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: “The Auto Parts Trade: AutoZone Vs. Advance Vs. O’Reilly” on September 05, 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.

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