Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Rating of “Hold” by Analysts

Advance Auto Parts, Inc. (NYSE:AAP) has been assigned an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $45.13.

AAP has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. UBS Group raised their target price on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. The Goldman Sachs Group reduced their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. BMO Capital Markets reduced their price objective on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company raised their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th.

Insider Activity

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. bought 14,640 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the purchase, the director now directly owns 34,070 shares of the company’s stock, valued at $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AAP. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Advance Auto Parts during the third quarter valued at approximately $14,684,000. Wolverine Asset Management LLC lifted its position in Advance Auto Parts by 212.4% during the third quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock valued at $1,223,000 after purchasing an additional 21,320 shares during the last quarter. Blue Trust Inc. lifted its position in Advance Auto Parts by 75.9% during the fourth quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock valued at $100,000 after purchasing an additional 914 shares during the last quarter. Quest Partners LLC bought a new stake in Advance Auto Parts during the third quarter valued at approximately $579,000. Finally, Moody National Bank Trust Division bought a new stake in Advance Auto Parts during the fourth quarter valued at approximately $1,196,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Down 0.1 %

NYSE AAP opened at $36.53 on Wednesday. The business has a 50 day simple moving average of $44.78 and a 200 day simple moving average of $42.45. Advance Auto Parts has a one year low of $33.08 and a one year high of $88.56. The stock has a market capitalization of $2.18 billion, a P/E ratio of 50.04, a P/E/G ratio of 1.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

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.