Advance Auto Parts, Inc. (NYSE:AAP) Director Eugene I. Lee, Jr. Purchases 14,640 Shares

Advance Auto Parts, Inc. (NYSE:AAP) Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $34.15 per share, with a total value of $499,956.00. Following the purchase, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Advance Auto Parts Trading Up 3.7 %

Shares of Advance Auto Parts stock opened at $36.67 on Tuesday. Advance Auto Parts, Inc. has a 12-month low of $33.08 and a 12-month high of $88.56. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 50.24, a PEG ratio of 1.98 and a beta of 1.27. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $44.97 and its 200-day moving average price is $42.56.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 2.73%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s payout ratio is -17.86%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. 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. DA Davidson restated a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. UBS Group increased their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Truist Financial cut their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup cut their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.69.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Advance Auto Parts in the third quarter valued at approximately $14,684,000. Wolverine Asset Management LLC raised its stake in Advance Auto Parts by 212.4% in the third 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 in the last quarter. Blue Trust Inc. raised its stake in Advance Auto Parts by 75.9% in the fourth quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock valued at $100,000 after purchasing an additional 914 shares in the last quarter. Quest Partners LLC purchased a new stake in Advance Auto Parts in the third quarter valued at approximately $579,000. Finally, Moody National Bank Trust Division purchased a new stake in Advance Auto Parts in the fourth quarter valued at approximately $1,196,000. 88.75% of the stock is owned by hedge funds and other 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.