Advance Auto Parts (NYSE:AAP) Shares Up 5.3% – Here’s Why

Advance Auto Parts, Inc. (NYSE:AAP) shares traded up 5.3% on Thursday . The company traded as high as $39.78 and last traded at $39.82. 490,377 shares were traded during mid-day trading, a decline of 77% from the average session volume of 2,099,494 shares. The stock had previously closed at $37.82.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. BMO Capital Markets decreased their target price on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Evercore ISI cut their price target 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. Barclays reduced their price objective on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Finally, Royal Bank of Canada lowered their target price on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Hold” and an average price target of $45.13.

Advance Auto Parts Stock Performance

The business’s fifty day moving average price is $42.48 and its 200-day moving average price is $41.84. The stock has a market cap of $2.33 billion, a PE ratio of 53.32, 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.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly purchased 1,500 shares of Advance Auto Parts stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $36.79 per share, with a total value of $55,185.00. Following the transaction, the chief executive officer now directly owns 183,121 shares of the company’s stock, valued at $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the acquisition, the director now owns 34,070 shares of the company’s stock, valued at $1,163,490.50. The trade was a 75.35 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AAP. Eminence Capital LP bought a new position in Advance Auto Parts in the 4th quarter worth $87,214,000. Price T Rowe Associates Inc. MD increased its holdings in Advance Auto Parts by 34.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company’s stock worth $316,160,000 after acquiring an additional 1,706,328 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in Advance Auto Parts during the 4th quarter worth approximately $75,055,000. Marshall Wace LLP lifted its holdings in Advance Auto Parts by 2,585.1% during the fourth quarter. Marshall Wace LLP now owns 1,353,912 shares of the company’s stock valued at $64,026,000 after purchasing an additional 1,303,488 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Advance Auto Parts by 2,662.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company’s stock worth $61,156,000 after purchasing an additional 1,246,384 shares during the period. Hedge funds and other institutional investors own 88.75% of the company’s stock.

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.