Advance Auto Parts, Inc. (NYSE:AAP) has earned a consensus recommendation of “Buy” from the twenty-four research firms that are presently covering the company. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $171.97.
Several equities analysts have recently issued reports on AAP shares. Wedbush reaffirmed an “outperform” rating on shares of Advance Auto Parts in a research note on Tuesday, January 3rd. Cleveland Research raised Advance Auto Parts from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 11th. Bank of America Corp lowered Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 13th. Zacks Investment Research raised Advance Auto Parts from a “hold” rating to a “buy” rating and set a $196.00 price target on the stock in a research note on Tuesday, January 17th. Finally, Guggenheim started coverage on Advance Auto Parts in a research note on Wednesday, January 18th. They set a “neutral” rating on the stock.
Advance Auto Parts (NYSE:AAP) traded up 0.19% during midday trading on Monday, reaching $146.84. The company’s stock had a trading volume of 1,021,629 shares. The firm has a market capitalization of $10.80 billion, a PE ratio of 23.68 and a beta of 1.10. Advance Auto Parts has a 1-year low of $132.98 and a 1-year high of $177.83. The firm has a 50 day moving average price of $148.38 and a 200 day moving average price of $157.41.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 7th. Shareholders of record on Friday, March 24th were issued a $0.06 dividend. The ex-dividend date was Wednesday, March 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 3.94%.
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In other Advance Auto Parts news, EVP Charles E. Tyson sold 18,944 shares of the stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $153.46, for a total value of $2,907,146.24. Following the completion of the sale, the executive vice president now directly owns 21,948 shares in the company, valued at $3,368,140.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Greco purchased 6,500 shares of the stock in a transaction on Tuesday, March 7th. The stock was acquired at an average price of $154.29 per share, with a total value of $1,002,885.00. Following the completion of the acquisition, the insider now directly owns 107,936 shares of the company’s stock, valued at $16,653,445.44. The disclosure for this purchase can be found here. 4.50% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of Advance Auto Parts by 2.8% in the third quarter. BlackRock Fund Advisors now owns 1,168,615 shares of the company’s stock valued at $174,264,000 after buying an additional 31,497 shares during the period. Eos Focused Equity Management L.P. increased its stake in shares of Advance Auto Parts by 22.2% in the third quarter. Eos Focused Equity Management L.P. now owns 37,091 shares of the company’s stock valued at $5,531,000 after buying an additional 6,749 shares during the period. Amtrust Financial Services Inc. acquired a new stake in shares of Advance Auto Parts during the fourth quarter valued at about $3,805,000. Hartford Investment Management Co. increased its stake in shares of Advance Auto Parts by 23.4% in the third quarter. Hartford Investment Management Co. now owns 61,903 shares of the company’s stock valued at $9,231,000 after buying an additional 11,721 shares during the period. Finally, ING Groep NV increased its stake in shares of Advance Auto Parts by 31.3% in the fourth quarter. ING Groep NV now owns 6,135 shares of the company’s stock valued at $1,045,000 after buying an additional 1,463 shares during the period. Institutional investors own 98.67% of the company’s stock.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
