Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report)’s share price was down 3.5% during trading on Thursday . The stock traded as low as $80.93 and last traded at $81.20. Approximately 867,460 shares traded hands during trading, a decline of 54% from the average daily volume of 1,874,192 shares. The stock had previously closed at $84.16.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AAP shares. JPMorgan Chase & Co. raised their price objective on Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Truist Financial raised their price objective on Advance Auto Parts from $60.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday. William Blair restated a “market perform” rating on shares of Advance Auto Parts in a report on Wednesday, December 13th. TheStreet upgraded Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Finally, Evercore ISI raised their price target on Advance Auto Parts from $74.00 to $83.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.47.

View Our Latest Analysis on AAP

Advance Auto Parts Trading Down 5.8 %

The stock has a 50 day simple moving average of $72.59 and a 200-day simple moving average of $62.16. The firm has a market capitalization of $4.72 billion, a P/E ratio of 107.11, a P/E/G ratio of 1.52 and a beta of 1.17. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71.

Advance Auto Parts (NYSE:AAP – Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts forecast that Advance Auto Parts, Inc. will post 3.95 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. Advance Auto Parts’s payout ratio is currently 135.14%.

Insider Activity

In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the sale, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brent Windom bought 4,700 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were bought at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $853,400. The disclosure for this purchase can be found here. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Hedge funds have recently made changes to their positions in the company. Covestor Ltd lifted its stake in shares of Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares during the last quarter. Clear Street Markets LLC lifted its stake in shares of Advance Auto Parts by 245.9% during the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in shares of Advance Auto Parts by 469.4% during the 4th quarter. Industrial Alliance Investment Management Inc. now owns 353 shares of the company’s stock worth $52,000 after purchasing an additional 291 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Advance Auto Parts during the 2nd quarter worth $28,000. Finally, Allworth Financial LP lifted its stake in shares of Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Advance Auto Parts Company Profile

(Get Free Report)

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.

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