Evercore ISI Cuts Advance Auto Parts (NYSE:AAP) Price Target to $35.00

Advance Auto Parts (NYSE:AAP) had its price target lowered by Evercore ISI from $37.00 to $35.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company increased their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. UBS Group raised their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Truist Financial dropped their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Barclays dropped their price objective on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Finally, DA Davidson restated a “neutral” rating and set a $45.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.13.

Advance Auto Parts Trading Up 1.2 %

AAP opened at $38.04 on Tuesday. The firm’s fifty day moving average is $44.37 and its two-hundred day moving average is $42.33. 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 firm has a market cap of $2.27 billion, a PE ratio of 52.11, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. Advance Auto Parts has a twelve month low of $33.08 and a twelve month high of $88.56.

Advance Auto Parts Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insider Activity

In other news, CEO Shane M. Okelly acquired 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the transaction, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. The trade was a 0.83 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $34.15 per share, with a total value of $499,956.00. Following the acquisition, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted 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 worth $26,000 after buying an additional 365 shares during the period. Allworth Financial LP boosted its holdings in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after buying an additional 818 shares during the period. Vision Financial Markets LLC bought a new stake in shares of Advance Auto Parts during the 4th quarter worth about $42,000. Advisory Services Network LLC bought a new stake in shares of Advance Auto Parts during the 4th quarter worth about $46,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Advance Auto Parts by 198.3% during the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after buying an additional 1,047 shares during the period. Institutional investors 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.