Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report)’s stock price reached a new 52-week low on Friday after Stephens lowered their price target on the stock from $77.00 to $71.00. Stephens currently has an equal weight rating on the stock. Advance Auto Parts traded as low as $63.09 and last traded at $64.12, with a volume of 1782778 shares changing hands. The stock had previously closed at $67.91.
A number of other analysts also recently weighed in on AAP. StockNews.com initiated coverage on shares of Advance Auto Parts in a research report on Thursday, August 17th. They set a “hold” rating for the company. The Goldman Sachs Group decreased their price objective on shares of Advance Auto Parts from $90.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday. Bank of America cut shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $178.00 to $85.00 in a research report on Thursday, June 1st. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $84.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Wells Fargo & Company cut their price objective on Advance Auto Parts from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $94.74.
Insider Transactions at Advance Auto Parts
In related news, Director Douglas A. Pertz acquired 4,575 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average cost of $66.02 per share, for a total transaction of $302,041.50. Following the completion of the purchase, the director now directly owns 12,831 shares in the company, valued at $847,102.62. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Douglas A. Pertz purchased 4,575 shares of the company’s stock in a transaction on Monday, June 12th. The shares were bought at an average cost of $66.02 per share, for a total transaction of $302,041.50. Following the transaction, the director now owns 12,831 shares of the company’s stock, valued at $847,102.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carla Jean Bailo purchased 500 shares of Advance Auto Parts stock in a transaction dated Wednesday, June 7th. The stock was bought at an average cost of $65.90 per share, with a total value of $32,950.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately $32,950. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 5,463 shares of company stock valued at $359,924. 0.63% of the stock is currently owned by corporate insiders.
Institutional Trading of Advance Auto Parts
A number of hedge funds and other institutional investors have recently modified their holdings of AAP. ArrowMark Colorado Holdings LLC lifted its holdings in Advance Auto Parts by 4.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,717 shares of the company’s stock valued at $252,000 after acquiring an additional 77 shares during the last quarter. New York Life Investment Management LLC lifted its stake in Advance Auto Parts by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 9,711 shares of the company’s stock valued at $1,428,000 after purchasing an additional 78 shares during the last quarter. Covestor Ltd grew its position in Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after buying an additional 83 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Advance Auto Parts by 4.1% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,173 shares of the company’s stock valued at $340,000 after buying an additional 86 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its position in shares of Advance Auto Parts by 6.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 1,418 shares of the company’s stock valued at $293,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.
Advance Auto Parts Trading Down 5.1 %
The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.24 and a current ratio of 1.26. The firm has a market capitalization of $3.83 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 1.27 and a beta of 1.08. The firm has a 50 day moving average price of $70.20 and a two-hundred day moving average price of $102.78.
Advance Auto Parts (NYSE:AAP – Get Free Report) last issued its quarterly earnings results on Wednesday, August 23rd. The company reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.23). Advance Auto Parts had a return on equity of 17.53% and a net margin of 3.08%. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the business posted $3.74 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts expect that Advance Auto Parts, Inc. will post 4.8 EPS for the current fiscal year.
Advance Auto Parts Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a $0.25 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 17.30%.
About Advance Auto Parts
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.