Advance Auto Parts (NYSE:AAP) Hits New 12-Month Low - Here's Why

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $32.30 and last traded at $32.70, with a volume of 195230 shares. The stock had previously closed at $35.01.

Analysts Set New Price Targets

AAP has been the subject of several analyst reports. Wedbush reissued an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. Evercore ISI lowered their target price on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 11th. Royal Bank of Canada cut their price target on 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. Wells Fargo & Company lifted their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Finally, BMO Capital Markets dropped their price objective 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, February 27th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.13.

Advance Auto Parts Price Performance

The stock has a market cap of $1.93 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. 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 company's fifty day moving average is $39.20 and its 200 day moving average is $41.33.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 3.09%. Advance Auto Parts's dividend payout ratio is currently -17.86%.

Insider Activity

In other news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the acquisition, the director now owns 34,070 shares of the company's stock, valued at $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Shane M. Okelly bought 1,500 shares of the stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $36.79 per share, with a total value of $55,185.00. Following the purchase, the chief executive officer now owns 183,121 shares of the company's stock, valued at $6,737,021.59. The trade was a 0.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.35% of the company's stock.

Hedge Funds Weigh In On Advance Auto Parts

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in shares of Advance Auto Parts in the 3rd quarter worth $503,000. Virtu Financial LLC acquired a new position in shares of Advance Auto Parts in the third quarter worth about $1,117,000. Versant Capital Management Inc increased its position in shares of 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 in the last quarter. GAMMA Investing LLC grew its position in Advance Auto Parts by 198.3% during the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock worth $74,000 after purchasing an additional 1,047 shares in the last quarter. Finally, First Hawaiian Bank lifted its holdings in shares of Advance Auto Parts by 14.4% in the fourth quarter. First Hawaiian Bank now owns 19,692 shares of the company's stock valued at $931,000 after purchasing an additional 2,474 shares in the last quarter. 88.75% of the stock is currently 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.