Advance Auto (NYSE:AAP) Share Price May Be About to Change Direction; BB&T Capital Mkts Downgrades Them


Advance Auto (NYSE:AAP) Receives a Downgrade

In analysts report announced on Tuesday morning, BB&T Capital Mkts announced that they will be downgrading shares of Advance Auto (NYSE:AAP) from a Buy to a Hold rating.

From a total of 17 analysts covering Advance Auto Parts Inc. (NYSE:AAP) stock, 12 rate it a ”Buy”, 0 a “Sell”, and 11 a ”Hold”. This means that 52% of the ratings are positive. The highest target price is $215 while the lowest target price is $158. The mean of all analyst targets is $192.59 with a 31.53% above today’s ($147.26) stock price. Advance Auto Parts Inc. was the topic of 18 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Sterne Agee CRT downgraded shares on November 13 to “Neutral” rating. Sterne Agee CRT maintained shares with “Buy” rating and $210 target share price in a report from an August 14. Zacks upgraded AAP stock in a recent report from September 7 to “Buy” rating. Evercore downgraded the rating on August 5. Evercore has a “Hold” rating and a $179 price target on shares. Finally, Argus Research upgraded the stock to “Buy” rating in a report issued on an August 18.

Approximately 55,822 shares of stock traded hands. Advance Auto Parts, Inc. (NYSE:AAP) has risen 0.33% since May 12, 2015 and is uptrending. It has outperformed by 4.00% the S&P500.

The overall sentiment of institutions has increased to 1.23 in Q2 2015. Its up 0.46, from 0.77 in 2015Q2. The ratio improved, as 32 institutions have sold all the shares of Advance Auto Parts, Inc. that they owned while 167 funds have taken shares off the table. 103 funds have purchased shares for the first time while 142 added to their positions. These institutions now hold 81.96 million shares or 14.11% more than the 71.83 million shares they owned in 2015Q2.

The Fund 12Th Street Asset Management Company Llc currently is holding shares equating to 10.73% of its total portfolio in Advance Auto Parts, Inc. representing a total of 154,422 shares. Another fund,Standard Pacific Capital Llc Ca, is holding a total of 43,215 shares equating to 8.19% of their holdings. Additionally, Starboard Value Lp has a 1.71 million share stake in Advance Auto Parts, Inc. which represents 7.23% of their total portfolio. The Fund, Clearline Capital Lp, based out of New York, has also built up a stake in the stock, which represents a total of 6.83% of their total portfolio. Finally Scharf Investments Llc, a fund which is based in the state of California reported a total holdings of 1.12 million shares.

Advance Auto Parts, Inc. is a provider of automotive aftermarket parts. The company has a market cap of $10.79 billion. The company’s stores and branches offer a selection of brand name, original equipment maker 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 21.64 P/E ratio. The firm serves its do-it-for-me (commercial) clients and do-it-yourself (DIY) clients through a variety of channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites.

According to Zacks Investment Research, “Advance Auto Parts, Inc. is a specialty retailer of automotive parts, accessories and maintenance items to do-it-yourself customers.”