Advance Auto Parts Inc. (AAP) Trading Down 1.9%
Advance Auto Parts Inc. (NYSE:AAP)’s share price dropped 1.9% on Friday . The company traded as low as $157.03 and last traded at $157.19, with a volume of 461,160 shares. The stock had previously closed at $160.18.
AAP has been the topic of a number of analyst reports. Vetr cut Advance Auto Parts from a “hold” rating to a “sell” rating and set a $150.50 price target on the stock. in a research note on Tuesday, June 28th. Argus reaffirmed a “buy” rating and set a $185.00 target price (down previously from $200.00) on shares of Advance Auto Parts in a research note on Tuesday, June 21st. Cleveland Research reaffirmed a “neutral” rating on shares of Advance Auto Parts in a research note on Tuesday, May 17th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $171.00 target price (up previously from $155.00) on shares of Advance Auto Parts in a research note on Thursday, August 18th. Finally, BTIG Research reaffirmed a “sell” rating and set a $120.00 target price on shares of Advance Auto Parts in a research note on Wednesday, August 17th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $168.85.
The stock’s 50 day moving average price is $164.54 and its 200-day moving average price is $156.59. The stock has a market cap of $11.54 billion and a price-to-earnings ratio of 23.98.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Tuesday, August 16th. The company reported $1.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.12 by $0.22. The company earned $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.27 EPS. On average, equities analysts predict that Advance Auto Parts Inc. will post $7.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 23rd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.15%.
In other news, CEO Thomas Greco acquired 6,700 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The stock was acquired at an average cost of $150.82 per share, for a total transaction of $1,010,494.00. Following the completion of the acquisition, the chief executive officer now owns 35,904 shares in the company, valued at $5,415,041.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tammy M. Finley sold 272 shares of the stock in a transaction dated 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 disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Trexquant Investment LP purchased a new position in Advance Auto Parts during the fourth quarter worth about $1,159,000. Utah Retirement Systems increased its position in Advance Auto Parts by 0.8% in the fourth quarter. Utah Retirement Systems now owns 13,236 shares of the company’s stock worth $1,992,000 after buying an additional 100 shares in the last quarter. KBC Group NV increased its position in Advance Auto Parts by 18.4% in the fourth quarter. KBC Group NV now owns 28,038 shares of the company’s stock worth $4,220,000 after buying an additional 4,360 shares in the last quarter. American International Group Inc. increased its position in Advance Auto Parts by 5.5% in the fourth quarter. American International Group Inc. now owns 28,660 shares of the company’s stock worth $4,312,000 after buying an additional 1,490 shares in the last quarter. Finally, I.G. Investment Management LTD. increased 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 in 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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