Advance Auto Parts, Inc. (NYSE:AAP) Director Buys $499,956.00 in Stock

Advance Auto Parts, Inc. (NYSE:AAP) Director Eugene I. Lee, Jr. acquired 14,640 shares of Advance Auto Parts stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the purchase, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Advance Auto Parts Price Performance

AAP traded up $1.30 during trading on Monday, reaching $36.67. The stock had a trading volume of 4,302,376 shares, compared to its average volume of 2,318,549. The business has a 50-day moving average of $44.97 and a 200-day moving average of $42.56. Advance Auto Parts, Inc. has a one year low of $33.08 and a one year high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a market cap of $2.19 billion, a PE ratio of 50.24, a PEG ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s dividend payout ratio is currently -17.86%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in shares of Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares during the last quarter. Allworth Financial LP grew its stake in shares of Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after buying an additional 818 shares during the last quarter. Vision Financial Markets LLC purchased a new position in shares of Advance Auto Parts in the fourth quarter worth about $42,000. Advisory Services Network LLC bought a new stake in shares of Advance Auto Parts in the 4th quarter valued at about $46,000. Finally, GAMMA Investing LLC boosted its holdings in Advance Auto Parts by 198.3% during the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after acquiring an additional 1,047 shares during the period. 88.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AAP has been the subject of several research reports. Citigroup reduced their price target on shares of 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. Wedbush restated an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Monday, March 3rd. Royal Bank of Canada dropped their price objective on 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. DA Davidson reissued a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. Finally, Evercore ISI boosted their target price on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.69.

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.