Advance Auto Parts, Inc. (NYSE:AAP) SVP Sells $45,996.96 in Stock

Advance Auto Parts, Inc. (NYSE:AAP) SVP Jason Hand sold 948 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the sale, the senior vice president now owns 9,876 shares of the company’s stock, valued at $479,183.52. This represents a 8.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Advance Auto Parts Stock Up 5.2%

Shares of AAP traded up $2.55 on Monday, hitting $51.97. The company’s stock had a trading volume of 2,279,220 shares, compared to its average volume of 2,484,399. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The firm’s fifty day moving average price is $40.34 and its 200-day moving average price is $41.65. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $66.08. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -8.85 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The business’s quarterly revenue was down 24.2% compared to the same quarter last year. On average, equities research analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AAP shares. Bank of America boosted their price objective on shares of Advance Auto Parts from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Friday, May 23rd. Morgan Stanley boosted their price objective on shares of Advance Auto Parts from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. DA Davidson upped their target price on shares of Advance Auto Parts from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Roth Capital set a $50.00 price objective on shares of Advance Auto Parts and gave the stock a “neutral” rating in a report on Wednesday, May 28th. Finally, Redburn Atlantic raised shares of Advance Auto Parts from a “sell” rating to a “neutral” rating and increased their target price for the stock from $28.00 to $45.00 in a research report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.25.

Institutional Investors Weigh In On Advance Auto Parts

A number of large investors have recently added to or reduced their stakes in AAP. Hexagon Capital Partners LLC grew its holdings in shares of Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock worth $28,000 after purchasing an additional 465 shares in the last quarter. Allworth Financial LP boosted its stake 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 valued at $40,000 after purchasing an additional 818 shares in the last quarter. Vision Financial Markets LLC bought a new position in shares of Advance Auto Parts during the fourth quarter worth about $42,000. Advisory Services Network LLC bought a new position in shares of Advance Auto Parts during the fourth quarter worth about $46,000. Finally, Financial Management Professionals Inc. bought a new position in shares of Advance Auto Parts during the first quarter worth about $49,000. Institutional investors own 88.75% of the company’s stock.

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.