Insider Buying: Advance Auto Parts, Inc. (NYSE:AAP) Director Acquires $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 dated Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, with a total value 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 $1,163,490.50. This trade represents a 75.35 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Advance Auto Parts Stock Up 3.1 %

Shares of NYSE:AAP opened at $37.67 on Thursday. The company’s fifty day moving average is $44.56 and its 200-day moving average is $42.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts, Inc. has a 52 week low of $33.08 and a 52 week high of $88.56. The company has a market capitalization of $2.25 billion, a PE ratio of 51.60, a P/E/G ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Analyst Upgrades and Downgrades

AAP has been the subject of several research analyst reports. Citigroup cut their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Barclays reduced their target price on shares of 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. Truist Financial lowered their price target on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada cut their price target on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, Wells Fargo & Company lifted their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the stock 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 issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.13.

Institutional Trading of Advance Auto Parts

Several hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Advance Auto Parts during the 3rd quarter worth approximately $14,684,000. Wolverine Asset Management LLC boosted its stake in Advance Auto Parts by 212.4% in the third quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock worth $1,223,000 after purchasing an additional 21,320 shares in the last quarter. Blue Trust Inc. grew its holdings 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 purchasing an additional 914 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Advance Auto Parts in the third quarter valued at $579,000. Finally, Moody National Bank Trust Division bought a new position in shares of Advance Auto Parts in the fourth quarter valued at about $1,196,000. Institutional investors and hedge funds 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.