Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report) fell 3.7% during trading on Thursday . The company traded as low as $74.49 and last traded at $74.85. 398,764 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,839,634 shares. The stock had previously closed at $77.70.
Analysts Set New Price Targets
A number of research firms have recently commented on AAP. Barclays raised their price objective on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. raised their price objective on shares of Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Truist Financial raised their price objective on shares of Advance Auto Parts from $60.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. TheStreet upgraded shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. Finally, Evercore ISI lifted their target price on shares of Advance Auto Parts from $74.00 to $83.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.47.
Advance Auto Parts Trading Down 4.6 %
The stock has a market capitalization of $4.43 billion, a P/E ratio of 100.96, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average price is $73.48 and its two-hundred day moving average price is $62.72.
Advance Auto Parts (NYSE:AAP – Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. Equities research analysts forecast that Advance Auto Parts, Inc. will post 3.94 EPS for the current year.
Advance Auto Parts Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, April 11th. Advance Auto Parts’s payout ratio is currently 135.14%.
Insider Buying and Selling at Advance Auto Parts
In other Advance Auto Parts news, Director Carla Jean Bailo bought 310 shares of Advance Auto Parts stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $81.19 per share, with a total value of $25,168.90. Following the transaction, the director now directly owns 5,789 shares of the company’s stock, valued at $470,008.91. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Advance Auto Parts news, Director Carla Jean Bailo purchased 310 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the purchase, the director now directly owns 5,789 shares in the company, valued at $470,008.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brent Windom purchased 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was acquired at an average price of $85.34 per share, with a total value of $401,098.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. Insiders own 0.63% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. grew its position in Advance Auto Parts by 2,226.6% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,026,668 shares of the company’s stock valued at $113,352,000 after purchasing an additional 1,939,560 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Advance Auto Parts by 53.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,958,241 shares of the company’s stock valued at $241,573,000 after purchasing an additional 1,370,550 shares during the last quarter. Pzena Investment Management LLC purchased a new stake in Advance Auto Parts during the 3rd quarter valued at about $73,882,000. Federated Hermes Inc. grew its position in Advance Auto Parts by 2,716,800.0% during the 4th quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock valued at $51,402,000 after purchasing an additional 842,208 shares during the last quarter. Finally, State Street Corp grew its position in Advance Auto Parts by 28.2% during the 1st quarter. State Street Corp now owns 3,431,787 shares of the company’s stock valued at $417,340,000 after purchasing an additional 754,027 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.