Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) shares shot up 3.2% on Monday . The stock traded as high as $45.52 and last traded at $45.48. 702,900 shares were traded during trading, a decline of 66% from the average session volume of 2,056,831 shares. The stock had previously closed at $44.06.
Wall Street Analysts Forecast Growth
AAP has been the topic of several analyst reports. Roth Capital raised Advance Auto Parts to a "hold" rating in a research report on Tuesday, October 15th. Truist Financial lowered their price target on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating on the stock in a report on Friday, November 15th. UBS Group lifted their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Roth Mkm restated a "neutral" rating and set a $40.00 target price on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Finally, DA Davidson reiterated a "neutral" rating and issued a $45.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Advance Auto Parts currently has an average rating of "Hold" and an average target price of $48.40.
View Our Latest Research Report on AAP
Advance Auto Parts Price Performance
The stock has a market capitalization of $2.75 billion, a PE ratio of 63.08 and a beta of 1.21. 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 50 day moving average price of $41.31 and a 200 day moving average price of $48.24.
Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter in the previous year, the company earned ($0.82) EPS. The business's quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts anticipate that Advance Auto Parts, Inc. will post -0.54 earnings per share for the current year.
Advance Auto Parts Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, January 10th. Advance Auto Parts's payout ratio is 136.99%.
Insiders Place Their Bets
In related news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares in the company, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.35% of the company's stock.
Institutional Investors Weigh In On Advance Auto Parts
A number of institutional investors have recently bought and sold shares of AAP. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Advance Auto Parts during the second quarter worth about $41,000. Blue Trust Inc. boosted its stake in Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company's stock worth $47,000 after purchasing an additional 436 shares during the period. AM Squared Ltd purchased a new stake in Advance Auto Parts during the 2nd quarter valued at approximately $63,000. KBC Group NV raised its position 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 last quarter. Finally, City State Bank purchased a new position in shares of Advance Auto Parts in the third quarter worth $78,000. Hedge funds and other institutional investors own 88.75% of the company's stock.
About Advance Auto Parts
(
Get Free Report)
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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