Advance Auto Parts, Inc. (NYSE:AAP) Director Acquires $499,956.00 in Stock

Advance Auto Parts, Inc. (NYSE:AAP) Director Eugene I. Lee, Jr. acquired 14,640 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the purchase, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $36.53 on Wednesday. Advance Auto Parts, Inc. has a 52 week low of $33.08 and a 52 week high of $88.56. The business’s 50 day moving average price is $44.78 and its 200 day moving average price is $42.45. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market cap of $2.18 billion, a P/E ratio of 50.04, a P/E/G ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is currently -17.86%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AAP shares. Wells Fargo & Company increased their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Barclays reduced their price objective on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. UBS Group lifted their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Citigroup reduced their price target on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Royal Bank of Canada lowered their price objective on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and an average price target of $45.13.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AAP. CIBC Asset Management Inc boosted its holdings in Advance Auto Parts by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock valued at $277,000 after purchasing an additional 221 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Advance Auto Parts by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock valued at $1,242,000 after buying an additional 281 shares during the period. Ingalls & Snyder LLC boosted its stake in shares of Advance Auto Parts by 5.0% in the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock worth $316,000 after buying an additional 317 shares during the last quarter. Studio Investment Management LLC grew its holdings in Advance Auto Parts by 6.7% during the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company’s stock worth $263,000 after acquiring an additional 350 shares during the period. Finally, Versant Capital Management Inc raised its position in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after acquiring an additional 365 shares in the last quarter. 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.