Traders Buy Shares of Advance Auto Parts Inc. (AAP) on Weakness
Traders bought shares of Advance Auto Parts Inc. (NYSE:AAP) on weakness during trading on Tuesday. $39.79 million flowed into the stock on the tick-up and $27.22 million flowed out of the stock on the tick-down, for a money net flow of $12.57 million into the stock. Of all companies tracked, Advance Auto Parts had the 21st highest net in-flow for the day. Advance Auto Parts traded down ($0.14) for the day and closed at $163.55
AAP has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Advance Auto Parts in a research note on Sunday, May 22nd. Credit Suisse Group AG reiterated a “buy” rating on shares of Advance Auto Parts in a research note on Sunday, May 22nd. Morgan Stanley reiterated a “buy” rating on shares of Advance Auto Parts in a research note on Sunday, May 22nd. Vetr lowered shares of Advance Auto Parts from a “strong-buy” rating to a “buy” rating and set a $167.67 target price for the company. in a research note on Wednesday, May 25th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Advance Auto Parts in a research note on Sunday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $171.71.
The firm has a market cap of $12.00 billion and a PE ratio of 25.00. The stock’s 50 day moving average is $156.02 and its 200 day moving average is $152.91.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, May 19th. The company reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.60 by $0.09. During the same period in the previous year, the business posted $2.39 earnings per share. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Advance Auto Parts’s revenue was down 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Advance Auto Parts Inc. will post $7.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 17th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, June 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.15%.
In other Advance Auto Parts news, Director Jeffrey C. Smith bought 400,000 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, May 31st. The stock was purchased at an average price of $155.68 per share, with a total value of $62,272,000.00. Following the completion of the acquisition, the director now directly owns 1,271 shares in the company, valued at approximately $197,869.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles E. Tyson sold 5,527 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $149.19, for a total transaction of $824,573.13. Following the transaction, the executive vice president now directly owns 27,199 shares of the company’s stock, valued at approximately $4,057,818.81. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of the company. Roosevelt Investment Group Inc. boosted its position in shares of Advance Auto Parts by 207.3% in the fourth quarter. Roosevelt Investment Group Inc. now owns 6,695 shares of the company’s stock valued at $1,008,000 after buying an additional 4,516 shares during the period. I.G. Investment Management LTD. boosted its position in Advance Auto Parts by 51.9% in the fourth quarter. I.G. Investment Management LTD. now owns 45,929 shares of the company’s stock worth $6,913,000 after buying an additional 15,688 shares during the last quarter. Trexquant Investment LP purchased a new position in Advance Auto Parts during the fourth quarter worth $1,159,000. Tradition Capital Management LLC purchased a new position in Advance Auto Parts during the fourth quarter worth $1,270,000. Finally, Marshall Wace LLP boosted its position in Advance Auto Parts by 49.3% in the fourth quarter. Marshall Wace LLP now owns 435,985 shares of the company’s stock worth $65,621,000 after buying an additional 144,014 shares during the last quarter.
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. 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.
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