Fintel reports that on December 13, 2024, BMO Capital initiated coverage of Advance Auto Parts (NYSE:AAP) with a Market Perform recommendation.
Analyst Price Forecast Suggests 0.69% Upside
As of December 3, 2024, the average one-year price target for Advance Auto Parts is $44.34/share. The forecasts range from a low of $17.17 to a high of $69.30. The average price target represents an increase of 0.69% from its latest reported closing price of $44.04 / share.
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The projected annual revenue for Advance Auto Parts is 11,860MM, an increase of 5.98%. The projected annual non-GAAP EPS is 15.17.
What is the Fund Sentiment?
There are 759 funds or institutions reporting positions in Advance Auto Parts. This is an decrease of 41 owner(s) or 5.12% in the last quarter. Average portfolio weight of all funds dedicated to AAP is 0.16%, an increase of 27.31%. Total shares owned by institutions increased in the last three months by 9.76% to 81,244K shares. 
The put/call ratio of AAP is 0.78, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 4,979K shares representing 8.39% ownership of the company. In its prior filing, the firm reported owning 4,504K shares , representing an increase of 9.55%. The firm decreased its portfolio allocation in AAP by 34.51% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 3,788K shares representing 6.38% ownership of the company. In its prior filing, the firm reported owning 3,855K shares , representing a decrease of 1.76%. The firm decreased its portfolio allocation in AAP by 45.70% over the last quarter.
Fuller & Thaler Asset Management holds 3,102K shares representing 5.23% ownership of the company. In its prior filing, the firm reported owning 1,614K shares , representing an increase of 47.96%. The firm increased its portfolio allocation in AAP by 8.46% over the last quarter.
Pzena Investment Management holds 2,909K shares representing 4.90% ownership of the company. In its prior filing, the firm reported owning 1,211K shares , representing an increase of 58.38%. The firm increased its portfolio allocation in AAP by 33.91% over the last quarter.
TRMCX - T. Rowe Price Mid-Cap Value Fund holds 2,823K shares representing 4.76% ownership of the company. In its prior filing, the firm reported owning 2,524K shares , representing an increase of 10.59%. The firm decreased its portfolio allocation in AAP by 36.46% over the last quarter.
Advance Auto Parts Background Information
(This description is provided by the company.)
Advance Auto Parts, Inc., is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of October 3, 2020, Advance operated 4,811 stores and 168 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,269 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands.
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