Advance Auto Parts (NYSE:AAP - Free Report) had its target price trimmed by Royal Bank of Canada from $50.00 to $44.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.
Several other research firms have also issued reports on AAP. Citigroup upped their target price on Advance Auto Parts from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Wedbush reiterated an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. Wells Fargo & Company raised 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 boosted their target price on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a "hold" rating in a research note on Wednesday, November 20th. 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 for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Advance Auto Parts currently has an average rating of "Hold" and a consensus price target of $46.69.
Get Our Latest Analysis on Advance Auto Parts
Advance Auto Parts Stock Down 4.3 %
Advance Auto Parts stock traded down $1.59 during midday trading on Thursday, hitting $35.31. 3,368,298 shares of the stock were exchanged, compared to its average volume of 2,161,175. Advance Auto Parts has a 52-week low of $35.02 and a 52-week high of $88.56. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The business's 50-day moving average price is $45.88 and its 200-day moving average price is $43.50. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 48.37, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15.
Advance Auto Parts Announces Dividend
The business also recently declared 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 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 is presently -17.86%.
Insider Transactions at Advance Auto Parts
In other news, EVP Tammy M. Finley sold 1,276 shares of the company's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company's stock, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company's stock.
Institutional Investors Weigh In On Advance Auto Parts
Large investors have recently added to or reduced their stakes in the business. United Advisor Group LLC purchased a new stake in shares of Advance Auto Parts in the 4th quarter valued at about $356,000. Mackenzie Financial Corp purchased a new stake in Advance Auto Parts in the fourth quarter valued at approximately $953,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Advance Auto Parts by 6.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,961 shares of the company's stock valued at $7,470,000 after purchasing an additional 9,803 shares during the last quarter. Towle & Co. increased its holdings in shares of Advance Auto Parts by 2.1% in the 4th quarter. Towle & Co. now owns 352,778 shares of the company's stock worth $16,683,000 after buying an additional 7,123 shares during the last quarter. Finally, Tairen Capital Ltd raised its position in shares of Advance Auto Parts by 415.8% during the 4th quarter. Tairen Capital Ltd now owns 215,851 shares of the company's stock valued at $10,208,000 after buying an additional 174,000 shares in the last quarter. Institutional investors own 88.75% of the company's stock.
About Advance Auto Parts
(
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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.
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