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

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned a consensus rating of “Hold” from the seventeen analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $45.13.

Several brokerages have commented on AAP. Wedbush reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Citigroup lowered their price objective on shares of 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. Royal Bank of Canada lowered their price objective on shares of 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. Wells Fargo & Company increased their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, BMO Capital Markets reduced their target price on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday, February 27th.

Advance Auto Parts Stock Down 1.3 %

Shares of NYSE:AAP opened at $37.63 on Wednesday. Advance Auto Parts has a 52 week low of $33.08 and a 52 week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The company has a market capitalization of $2.25 billion, a PE ratio of 51.55, a PEG ratio of 1.98 and a beta of 1.27. The company has a 50 day moving average price of $44.00 and a two-hundred day moving average price of $42.15.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio is presently -17.86%.

Insider Transactions at Advance Auto Parts

In other news, Director Eugene I. Lee, Jr. bought 14,640 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $34.15 per share, with a total value of $499,956.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Shane M. Okelly bought 1,500 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advance Auto Parts

A number of hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. boosted its position in Advance Auto Parts by 45.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,909 shares of the company’s stock worth $387,000 after buying an additional 3,088 shares during the period. State of New Jersey Common Pension Fund D lifted its position in shares of Advance Auto Parts by 35.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 40,390 shares of the company’s stock worth $1,575,000 after purchasing an additional 10,623 shares during the period. Wolverine Asset Management LLC lifted its position in shares of Advance Auto Parts by 212.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock worth $1,223,000 after purchasing an additional 21,320 shares during the period. Versor Investments LP acquired a new position in shares of Advance Auto Parts in the 3rd quarter worth approximately $781,000. Finally, Victory Capital Management Inc. lifted its position in shares of Advance Auto Parts by 24.9% in the 3rd quarter. Victory Capital Management Inc. now owns 56,016 shares of the company’s stock worth $2,184,000 after purchasing an additional 11,183 shares during the period. 88.75% of the stock is currently 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.