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

Shares of Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) have been given an average recommendation of "Hold" by the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $45.13.

A number of equities research analysts recently weighed in on the company. Wedbush reaffirmed an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. Truist Financial lowered their target price on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company increased their price objective 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. Evercore ISI dropped their target price on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Finally, BMO Capital Markets decreased their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research note on Thursday, February 27th.

Advance Auto Parts Price Performance

Advance Auto Parts stock traded down $1.26 during trading hours on Friday, hitting $32.21. 2,898,954 shares of the stock were exchanged, compared to its average volume of 2,215,035. Advance Auto Parts has a 12 month low of $28.89 and a 12 month high of $79.41. The business's 50-day moving average is $39.54 and its two-hundred day moving average is $41.38. 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 stock has a market capitalization of $1.93 billion, a P/E ratio of 44.13, a P/E/G ratio of 1.98 and a beta of 1.07.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.10%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's payout ratio is -17.86%.

Insiders Place Their Bets

In other Advance Auto Parts news, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The shares were 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. The trade was a 0.83 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, with a total value of $499,956.00. Following the completion of the purchase, the director now owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company's stock.

Hedge Funds Weigh In On Advance Auto Parts

Several institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in Advance Auto Parts by 34.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock worth $316,160,000 after buying an additional 1,706,328 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Advance Auto Parts by 11.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company's stock worth $163,129,000 after acquiring an additional 347,587 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of Advance Auto Parts by 12.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock worth $154,681,000 after acquiring an additional 362,239 shares during the period. Dimensional Fund Advisors LP lifted its position in Advance Auto Parts by 12.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company's stock valued at $129,016,000 after acquiring an additional 297,741 shares in the last quarter. Finally, Eminence Capital LP acquired a new position in Advance Auto Parts in the 4th quarter worth $87,214,000. Institutional investors own 88.75% of the company's stock.

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.