Advance Auto Parts, Inc. (NYSE:AAP) Given Average Rating of “Hold” by Analysts

Advance Auto Parts, Inc. (NYSE:AAP) has received an average rating of “Hold” from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $45.13.

A number of research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Barclays lowered their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Evercore ISI decreased their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Citigroup lowered their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd.

Advance Auto Parts Price Performance

NYSE:AAP opened at $37.71 on Wednesday. Advance Auto Parts has a 52-week low of $33.08 and a 52-week high of $88.56. The company has a market cap of $2.25 billion, a P/E ratio of 51.66, a P/E/G ratio of 1.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock’s 50-day simple moving average is $43.63 and its 200 day simple moving average is $42.04.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio is currently -17.86%.

Insider Transactions at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the purchase, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Shane M. Okelly bought 1,500 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the transaction, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Large investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its position in shares of Advance Auto Parts by 45.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,909 shares of the company’s stock worth $387,000 after acquiring an additional 3,088 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Advance Auto Parts by 35.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 40,390 shares of the company’s stock valued at $1,575,000 after purchasing an additional 10,623 shares in the last quarter. Wolverine Asset Management LLC increased its stake in shares of Advance Auto Parts by 212.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock valued at $1,223,000 after purchasing an additional 21,320 shares during the last quarter. Versor Investments LP acquired a new position in shares of Advance Auto Parts during the 3rd quarter worth $781,000. Finally, Victory Capital Management Inc. lifted its position in shares of Advance Auto Parts by 24.9% during the 3rd quarter. Victory Capital Management Inc. now owns 56,016 shares of the company’s stock worth $2,184,000 after buying an additional 11,183 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Company Profile

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.