Advance Auto Parts (NYSE:AAP) Trading 5.3% Higher – Time to Buy?

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. BMO Capital Markets decreased their target price on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report 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 report on Thursday, February 27th. Finally, Evercore ISI reduced their price objective on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.13.

Advance Auto Parts Trading Up 7.8 %

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 stock has a market cap of $2.44 billion, a P/E ratio of 55.69, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. The stock’s 50-day moving average is $42.73 and its two-hundred day moving average is $41.85.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio is currently -17.86%.

Insider Transactions at Advance Auto Parts

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 shares were bought at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the acquisition, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Shane M. Okelly purchased 1,500 shares of Advance Auto Parts stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the transaction, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Advance Auto Parts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in Advance Auto Parts by 75.9% during the 4th quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock worth $100,000 after purchasing an additional 914 shares during the last quarter. Moody National Bank Trust Division purchased a new position in shares of Advance Auto Parts in the fourth quarter worth about $1,196,000. Maple Rock Capital Partners Inc. acquired a new position in Advance Auto Parts during the third quarter worth about $9,046,000. FORA Capital LLC purchased a new stake in Advance Auto Parts during the 3rd quarter valued at about $2,144,000. Finally, Raymond James Financial Inc. acquired a new stake in Advance Auto Parts in the 4th quarter valued at about $8,822,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

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.