Advance Auto Parts (NYSE:AAP) Trading 5.3% Higher - What's Next?

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) shares traded up 5.3% during trading on Thursday . The stock traded as high as $39.78 and last traded at $39.82. 490,377 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 2,099,494 shares. The stock had previously closed at $37.82.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AAP shares. BMO Capital Markets lowered their target price on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Evercore ISI decreased their price target 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 dropped their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Barclays reduced their price objective on Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, January 9th. Finally, Wedbush reiterated an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $45.13.

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Advance Auto Parts Trading Up 0.9 %

The company has a 50-day moving average of $42.48 and a 200 day moving average of $41.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The company has a market cap of $2.35 billion, a PE ratio of 53.81, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Dividend Announcement

The business also recently announced 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 2.55%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend payout ratio is currently -17.86%.

Insider Buying and Selling

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. bought 14,640 shares of the company's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shane M. Okelly purchased 1,500 shares of Advance Auto Parts stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price 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 of the company's stock, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of Advance Auto Parts by 75.9% during the fourth quarter. Blue Trust Inc. now owns 2,119 shares of the company's stock worth $100,000 after acquiring an additional 914 shares during the period. Moody National Bank Trust Division purchased a new position in Advance Auto Parts during the fourth quarter valued at approximately $1,196,000. Maple Rock Capital Partners Inc. purchased a new position in Advance Auto Parts during the third quarter valued at approximately $9,046,000. Raymond James Financial Inc. bought a new position in Advance Auto Parts in the fourth quarter worth approximately $8,822,000. Finally, Commonwealth Equity Services LLC boosted its position in Advance Auto Parts by 97.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company's stock valued at $14,453,000 after acquiring an additional 150,604 shares in the last quarter. Institutional investors own 88.75% of the company's stock.

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.