Fintel reports that on October 5, 2023, Truist Securities maintained coverage of Advance Auto Parts (NYSE:AAP) with a Hold recommendation.
Analyst Price Forecast Suggests 39.63% Upside
As of October 4, 2023, the average one-year price target for Advance Auto Parts is 73.14. The forecasts range from a low of 50.50 to a high of $102.90. The average price target represents an increase of 39.63% from its latest reported closing price of 52.38.
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The projected annual revenue for Advance Auto Parts is 11,502MM, an increase of 2.52%. The projected annual non-GAAP EPS is 13.56.
What is the Fund Sentiment?
There are 1069 funds or institutions reporting positions in Advance Auto Parts. This is a decrease of 165 owner(s) or 13.37% in the last quarter. Average portfolio weight of all funds dedicated to AAP is 0.09%, a decrease of 42.86%. Total shares owned by institutions decreased in the last three months by 6.13% to 59,624K shares. 
The put/call ratio of AAP is 0.59, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 2,050K shares representing 3.45% ownership of the company. In it's prior filing, the firm reported owning 78K shares, representing an increase of 96.18%. The firm increased its portfolio allocation in AAP by 3,078.62% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,843K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 1,833K shares, representing an increase of 0.52%. The firm decreased its portfolio allocation in AAP by 46.38% over the last quarter.
Jpmorgan Chase holds 1,703K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 3,297K shares, representing a decrease of 93.61%. The firm increased its portfolio allocation in AAP by 112.11% over the last quarter.
Invesco holds 1,677K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 800K shares, representing an increase of 52.30%. The firm increased its portfolio allocation in AAP by 1,130.31% over the last quarter.
D. E. Shaw holds 1,662K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 34K shares, representing an increase of 97.97%. The firm increased its portfolio allocation in AAP by 3,342.78% 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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