How Negative is Citigroup on Advance Auto Parts (NYSE:AAP) Following Today’s Downgrade? The Target Price is $82.0

September 17, 2017 - By Ellis Scott

  How Negative is Citigroup on Advance Auto Parts (NYSE:AAP) Following Today’s Downgrade? The Target Price is $82.0

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.

Advisor Limited Liability Corporation reported 0.07% in Advance Auto Parts, Inc. (NYSE:AAP). Millennium Management invested in 0.11% or 323,760 shares. Samlyn Capital Llc accumulated 96,217 shares or 0.37% of the stock. 29 were accumulated by Services Corp. Wisconsin-based Mason Street Advsr Limited Liability Co has invested 0.05% in Advance Auto Parts, Inc. (NYSE:AAP). Lazard Asset Management Limited Co accumulated 0.81% or 2.15 million shares. Calvert Investment holds 4,680 shares or 0.03% of its portfolio. Weik Investment Ser Incorporated holds 10,901 shares or 1.03% of its portfolio. Mutual Of America Mngmt Ltd Liability Company owns 9,354 shares or 0.03% of their US portfolio. Minnesota-based Windsor Fincl Group Ltd Limited Liability Company has invested 2.9% in Advance Auto Parts, Inc. (NYSE:AAP). Prudential Inc holds 0.03% or 103,236 shares. Comerica Commercial Bank invested 0.05% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Clinton Gru Inc holds 0.11% or 10,682 shares in its portfolio. Royal Bank & Trust Of Canada reported 15,117 shares. Huntington Bank reported 0% stake.

Since March 20, 2017, it had 6 insider buys, and 0 sales for $49.68 million activity. Carter William Harrison sold $411,113 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Monday, March 20. Karaboutis Adriana bought $49,648 worth of stock or 367 shares. 16,000 shares valued at $2.15M were bought by Greco Thomas on Friday, May 26. The insider Smith Jeffrey C bought 350,000 shares worth $47.00 million. $67,435 worth of Advance Auto Parts, Inc. (NYSE:AAP) shares were bought by Slone Reuben E. Buss Brad W had bought 1,200 shares worth $161,364 on Tuesday, May 30. Shares for $250,481 were bought by LEE EUGENE I JR on Friday, May 26.

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 target of $82.0 on AAP. This target would indicate a possible downside of -17.60 % from the previous close 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.

Advisor Limited Liability Corporation reported 0.07% in Advance Auto Parts, Inc. (NYSE:AAP). Millennium Management invested in 0.11% or 323,760 shares. Samlyn Capital Llc accumulated 96,217 shares or 0.37% of the stock. 29 were accumulated by Services Corp. Wisconsin-based Mason Street Advsr Limited Liability Co has invested 0.05% in Advance Auto Parts, Inc. (NYSE:AAP). Lazard Asset Management Limited Co accumulated 0.81% or 2.15 million shares. Calvert Investment holds 4,680 shares or 0.03% of its portfolio. Weik Investment Ser Incorporated holds 10,901 shares or 1.03% of its portfolio. Mutual Of America Mngmt Ltd Liability Company owns 9,354 shares or 0.03% of their US portfolio. Minnesota-based Windsor Fincl Group Ltd Limited Liability Company has invested 2.9% in Advance Auto Parts, Inc. (NYSE:AAP). Prudential Inc holds 0.03% or 103,236 shares. Comerica Commercial Bank invested 0.05% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Clinton Gru Inc holds 0.11% or 10,682 shares in its portfolio. Royal Bank & Trust Of Canada reported 15,117 shares. Huntington Bank reported 0% stake.

Since March 20, 2017, it had 6 insider buys, and 0 sales for $49.68 million activity. Carter William Harrison sold $411,113 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Monday, March 20. Karaboutis Adriana bought $49,648 worth of stock or 367 shares. 16,000 shares valued at $2.15M were bought by Greco Thomas on Friday, May 26. The insider Smith Jeffrey C bought 350,000 shares worth $47.00 million. $67,435 worth of Advance Auto Parts, Inc. (NYSE:AAP) shares were bought by Slone Reuben E. Buss Brad W had bought 1,200 shares worth $161,364 on Tuesday, May 30. Shares for $250,481 were bought by LEE EUGENE I JR 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 company was maintained on Friday, February 12 by Deutsche Bank. Sterne Agee CRT downgraded the shares of AAP in report on Friday, November 13 to “Neutral” rating. The firm has “Buy” rating by UBS given on Wednesday, August 5. RBC Capital Markets maintained Advance Auto Parts, Inc. (NYSE:AAP) rating on Tuesday, November 15. RBC Capital Markets has “Outperform” rating and $175 target. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Buy” rating by Vetr on Tuesday, August 25. The stock of Advance Auto Parts, Inc. (NYSE:AAP) has “Buy” rating given on Monday, September 7 by Zacks. Jefferies maintained the shares of AAP in report on Monday, June 26 with “Hold” rating. The stock has “Neutral” rating by Citigroup on Wednesday, August 17. The company was downgraded on Tuesday, December 15 by BB&T Capital. The firm has “Outperform” rating given on Tuesday, May 2 by RBC Capital Markets.

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 earnings per share, 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: Barrons.com which released: “A Fender Bender for Advance Auto” on August 19, 2017, also Prnewswire.com with their article: “Stock Performance Review on Services Sector — AutoZone, O’Reilly Automotive …” published on September 08, 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: Benzinga.com and their article: “The Auto Parts Trade: AutoZone Vs. Advance Vs. O’Reilly” published on September 05, 2017 as well as Benzinga.com‘s news article titled: “Jim Cramer Gives His Opinion On Advance Auto Parts And Petmed Express” with publication date: August 23, 2017.

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