Advance Auto Parts (NYSE:AAP) Sets New 12-Month Low – Should You Sell?

Advance Auto Parts, Inc. (NYSE:AAP)’s share price hit a new 52-week low on Monday . The company traded as low as $35.59 and last traded at $35.75, with a volume of 1450421 shares. The stock had previously closed at $36.90.

Wall Street Analyst Weigh In

Several research analysts have commented on AAP shares. BMO Capital Markets cut their price objective 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. Barclays dropped their target price on 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. DA Davidson restated a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. Wells Fargo & Company lifted their price objective on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Truist Financial reduced their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and an average price target of $46.69.

Advance Auto Parts Price Performance

The stock has a market capitalization of $2.11 billion, a P/E ratio of 48.37, a PEG ratio of 1.98 and a beta of 1.15. The company has a 50 day moving average of $45.88 and a 200-day moving average of $43.50. 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 declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insider Activity at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Several large investors have recently added to or reduced their stakes in AAP. Raymond James & Associates increased its holdings in shares of Advance Auto Parts by 11.7% in the 3rd quarter. Raymond James & Associates now owns 106,475 shares of the company’s stock worth $4,151,000 after acquiring an additional 11,169 shares during the period. Stephens Inc. AR increased its stake in shares of Advance Auto Parts by 7.1% in the third quarter. Stephens Inc. AR now owns 27,704 shares of the company’s stock valued at $1,080,000 after purchasing an additional 1,828 shares during the period. Easterly Investment Partners LLC raised its holdings in shares of Advance Auto Parts by 32.2% during the third quarter. Easterly Investment Partners LLC now owns 43,951 shares of the company’s stock valued at $1,714,000 after buying an additional 10,709 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Advance Auto Parts by 45.3% during the third 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. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Advance Auto Parts by 35.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 40,390 shares of the company’s stock worth $1,575,000 after buying an additional 10,623 shares during the period. 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.