Advance Auto Parts Inc. (NYSE:AAP)’s share price rose 3.5% during mid-day trading on Thursday . The company traded as high as $172.87 and last traded at $170.50, with a volume of 920,350 shares traded. The stock had previously closed at $164.73.

AAP has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $160.00 target price on shares of Advance Auto Parts in a report on Monday, April 4th. Morgan Stanley reiterated a “positive” rating on shares of Advance Auto Parts in a report on Tuesday, April 5th. Goldman Sachs Group Inc. increased their target price on Advance Auto Parts from $173.00 to $181.00 and gave the stock a “neutral” rating in a report on Wednesday, April 6th. Deutsche Bank AG reiterated a “buy” rating and issued a $175.00 target price on shares of Advance Auto Parts in a report on Thursday, April 14th. Finally, Zacks Investment Research cut Advance Auto Parts from a “hold” rating to a “sell” rating in a report on Thursday, April 14th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $171.71.

The company has a 50-day moving average of $160.54 and a 200 day moving average of $154.33. The company has a market capitalization of $12.47 billion and a price-to-earnings ratio of 25.97.

Advance Auto Parts (NYSE:AAP) last posted its quarterly 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 quarter in the prior year, the company earned $2.39 earnings per share. The business earned $2.98 billion during the quarter, compared to the consensus estimate of $3.02 billion. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. Analysts expect that Advance Auto Parts Inc. will post $7.85 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 17th were issued a $0.06 dividend. The ex-dividend date was Wednesday, June 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.14%.

In other Advance Auto Parts news, EVP Tammy M. Finley sold 272 shares of the company’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $154.29, for a total value of $41,966.88. Following the transaction, the executive vice president now owns 8,903 shares of the company’s stock, valued at $1,373,643.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles E. Tyson sold 5,527 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $149.19, for a total value of $824,573.13. Following the completion of the transaction, the executive vice president now directly owns 27,199 shares in the company, valued at approximately $4,057,818.81. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently bought and sold shares of the company. 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 valued at $65,621,000 after buying an additional 144,014 shares in the last quarter. Morgan Stanley boosted its position in Advance Auto Parts by 46.6% in the fourth quarter. Morgan Stanley now owns 346,204 shares of the company’s stock valued at $52,108,000 after buying an additional 110,078 shares during the last quarter. Victory Capital Management Inc. boosted its position in Advance Auto Parts by 9.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,052,916 shares of the company’s stock valued at $158,475,000 after buying an additional 92,652 shares during the last quarter. Schroder Investment Management Group boosted its position in Advance Auto Parts by 18.4% in the fourth quarter. Schroder Investment Management Group now owns 461,900 shares of the company’s stock valued at $69,521,000 after buying an additional 71,700 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its position in Advance Auto Parts by 422.8% in the fourth quarter. State of Tennessee Treasury Department now owns 58,559 shares of the company’s stock valued at $8,814,000 after buying an additional 47,359 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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