Advance Auto Parts Inc. (AAP) Shares Down 1.9%
Shares of Advance Auto Parts Inc. (NYSE:AAP) fell 1.9% during trading on Friday . The stock traded as low as $157.03 and last traded at $157.19, with a volume of 461,160 shares traded. The stock had previously closed at $160.18.
Several brokerages have recently commented on AAP. Deutsche Bank AG raised their target price on Advance Auto Parts from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Citigroup Inc. raised their target price on Advance Auto Parts from $145.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 17th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price (up previously from $160.00) on shares of Advance Auto Parts in a research report on Wednesday, August 17th. BTIG Research reissued a “sell” rating and set a $120.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, August 17th. Finally, Susquehanna assumed coverage on Advance Auto Parts in a research report on Thursday. They set a “neutral” rating and a $158.00 price objective for the company. 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 stock. The stock has a consensus rating of “Hold” and an average price target of $168.85.
The stock’s 50-day moving average is $164.42 and its 200 day moving average is $156.70. The stock has a market cap of $11.54 billion and a PE ratio of 25.33.
Advance Auto Parts (NYSE:AAP) last released its earnings results 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. During the same period in the previous year, the business posted $2.27 EPS. The business earned $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. The company’s quarterly revenue was down 4.8% on a year-over-year basis. Equities research analysts anticipate that Advance Auto Parts Inc. will post $7.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 23rd will be paid 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 Advance Auto Parts news, CEO Thomas Greco acquired 6,250 shares of Advance Auto Parts stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average cost of $159.56 per share, for a total transaction of $997,250.00. Following the purchase, the chief executive officer now directly owns 42,154 shares in the company, valued at approximately $6,726,092.24. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction 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 institutional investors have bought and sold shares of the company. Trexquant Investment LP acquired a new position in Advance Auto Parts during the fourth quarter worth approximately $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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