Advance Auto Parts, Inc. (NYSE:AAP) Receives $45.13 Average PT from Analysts

Advance Auto Parts, Inc. (NYSE:AAP) has been assigned an average recommendation of “Hold” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $45.13.

Several research analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research report on Monday, March 3rd. Barclays cut their price target 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. Citigroup lowered their price objective on 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. Wells Fargo & Company upped their target price 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. Finally, BMO Capital Markets lowered their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th.

Advance Auto Parts Stock Down 0.3 %

Shares of NYSE:AAP opened at $37.71 on Wednesday. Advance Auto Parts has a 12 month low of $33.08 and a 12 month high of $88.56. The firm 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 quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $43.63 and its two-hundred day moving average price is $42.04.

Advance Auto Parts Dividend Announcement

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

Insider Buying and Selling at Advance Auto Parts

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

Hedge Funds Weigh In On Advance Auto Parts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its stake in shares of Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares during the period. Allworth Financial LP grew its holdings in shares of Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after buying an additional 818 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Advance Auto Parts in the 4th quarter valued at approximately $42,000. Advisory Services Network LLC bought a new stake in Advance Auto Parts in the 4th quarter valued at approximately $46,000. Finally, GAMMA Investing LLC boosted its position in Advance Auto Parts by 198.3% during the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after acquiring an additional 1,047 shares during the last quarter. 88.75% of the stock is 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.