Advance Auto Parts (NYSE:AAP) Trading Up 3.2% – Should You Buy?

Advance Auto Parts, Inc. (NYSE:AAP) shares rose 3.2% on Thursday . The company traded as high as $38.37 and last traded at $38.12. Approximately 578,957 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 2,105,495 shares. The stock had previously closed at $36.92.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AAP shares. Citigroup dropped their target price 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. Evercore ISI dropped their price objective on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a report on Tuesday, March 11th. BMO Capital Markets decreased their target price on 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. Truist Financial cut their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Barclays decreased their price objective 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. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.13.

Advance Auto Parts Stock Up 2.3 %

The firm’s fifty day simple moving average is $43.46 and its 200-day simple moving average is $42.00. The company has a market cap of $2.26 billion, a PE ratio of 51.40, 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.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.65%. Advance Auto Parts’s payout ratio is currently -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 the firm’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the purchase, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. This trade represents a 0.83 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now directly 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. 0.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Advance Auto Parts

A number of institutional investors and hedge funds have recently bought and sold shares of AAP. Price T Rowe Associates Inc. MD grew its stake in shares of 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 purchasing an additional 1,706,328 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Advance Auto Parts by 11.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company’s stock worth $163,129,000 after buying an additional 347,587 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Advance Auto Parts by 12.5% in the fourth quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company’s stock valued at $154,681,000 after buying an additional 362,239 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Advance Auto Parts by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company’s stock valued at $129,016,000 after acquiring an additional 297,741 shares during the last quarter. Finally, Eminence Capital LP bought a new stake in shares of Advance Auto Parts during the 4th quarter worth $87,214,000. 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.