Advance Auto Parts, Inc. (NYSE:AAP) Director Eugene I. Lee, Jr. Purchases 14,640 Shares

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) Director Eugene I. Lee, Jr. acquired 14,640 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 of the company's stock, valued at $1,163,490.50. This trade represents a 75.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Advance Auto Parts Stock Up 3.1 %

NYSE:AAP traded up $1.15 during midday trading on Wednesday, reaching $37.67. The company had a trading volume of 2,523,308 shares, compared to its average volume of 2,339,815. Advance Auto Parts, Inc. has a 12-month low of $33.08 and a 12-month high of $88.56. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 51.60, a PEG ratio of 1.98 and a beta of 1.27. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock's fifty day simple moving average is $44.56 and its 200-day simple moving average is $42.36.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend payout ratio is presently -17.86%.

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Institutional Trading of Advance Auto Parts

A number of large investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock worth $26,000 after acquiring an additional 365 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Advance Auto Parts by 1,543.4% in the 4th 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 purchased a new stake in shares of Advance Auto Parts during the 4th quarter worth $42,000. Advisory Services Network LLC acquired a new position in shares of Advance Auto Parts during the fourth quarter worth $46,000. Finally, GAMMA Investing LLC increased its holdings in Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock valued at $74,000 after buying an additional 1,047 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAP. Barclays reduced their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 9th. Wedbush restated an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a research report on Monday, March 3rd. Truist Financial lowered their price target on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Wells Fargo & Company boosted 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 report on Monday, January 6th. Finally, Royal Bank of Canada lowered their target price on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $45.13.

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.