Advance Auto Parts (NYSE:AAP) Trading Up 3.2% - Time to Buy?

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) shares rose 3.2% during trading on Thursday . The company traded as high as $38.37 and last traded at $38.12. Approximately 578,957 shares traded hands during trading, a decline of 73% from the average daily volume of 2,105,495 shares. The stock had previously closed at $36.92.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAP. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Barclays dropped their price target on Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 9th. Wedbush reiterated an "outperform" rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Monday, March 3rd. Citigroup decreased their target price on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lifted 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. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $45.13.

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Advance Auto Parts Price Performance

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 firm has a market cap of $2.31 billion, a P/E ratio of 52.82, a PEG ratio of 1.98 and a beta of 1.27. The business's fifty day simple moving average is $43.12 and its 200-day simple moving average is $41.90.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.59%. Advance Auto Parts's dividend payout ratio is currently -17.86%.

Insider Buying and Selling

In related news, CEO Shane M. Okelly bought 1,500 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the transaction, the chief executive officer now directly owns 183,121 shares in the company, valued at $6,737,021.59. This trade represents a 0.83 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was bought at an average price 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 approximately $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advance Auto Parts

A number of large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Advance Auto Parts by 24.9% in the third quarter. Victory Capital Management Inc. now owns 56,016 shares of the company's stock worth $2,184,000 after purchasing an additional 11,183 shares during the last quarter. KBC Group NV increased its stake in shares of Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company's stock valued at $68,000 after buying an additional 394 shares during the period. Commerce Bank lifted its stake in Advance Auto Parts by 304.1% in the third quarter. Commerce Bank now owns 14,648 shares of the company's stock worth $571,000 after acquiring an additional 11,023 shares during the period. Dynamic Technology Lab Private Ltd increased its position in Advance Auto Parts by 19.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 78,108 shares of the company's stock valued at $3,045,000 after purchasing an additional 12,704 shares during the period. Finally, Qsemble Capital Management LP raised its holdings in Advance Auto Parts by 1,244.9% in the 3rd quarter. Qsemble Capital Management LP now owns 54,281 shares of the company's stock worth $2,116,000 after purchasing an additional 50,245 shares in the last quarter. 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.