Investors Sell Advance Auto Parts Inc. (AAP) on Strength (AAP)
Investors sold shares of Advance Auto Parts Inc. (NYSE:AAP) on strength during trading on Monday. $33.47 million flowed into the stock on the tick-up and $59.28 million flowed out of the stock on the tick-down, for a money net flow of $25.81 million out of the stock. Of all stocks tracked, Advance Auto Parts had the 0th highest net out-flow for the day. Advance Auto Parts traded up $0.43 for the day and closed at $158.47
A number of research analysts have recently commented on AAP shares. Argus reissued a “buy” rating and issued a $185.00 price objective (down previously from $200.00) on shares of Advance Auto Parts in a research report on Tuesday, June 21st. Vetr downgraded shares of Advance Auto Parts from a “hold” rating to a “sell” rating and set a $150.50 target price for the company. in a report on Tuesday, June 28th. Barclays PLC reaffirmed an “underweight” rating and set a $130.00 target price on shares of Advance Auto Parts in a report on Monday, May 23rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Advance Auto Parts in a report on Tuesday, May 17th. Finally, BTIG Research began coverage on shares of Advance Auto Parts in a report on Wednesday, June 1st. They set a “sell” rating and a $120.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $169.53.
The company has a market cap of $11.66 billion and a P/E ratio of 24.23. The stock’s 50 day moving average is $164.78 and its 200 day moving average is $156.44.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, August 16th. The company reported $1.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by $0.22. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm posted $2.27 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, equities research analysts anticipate that Advance Auto Parts Inc. will post $7.40 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 23rd will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, September 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.15%.
In other Advance Auto Parts news, CEO Thomas Greco bought 6,700 shares of the business’s stock in a transaction on Tuesday, June 7th. The stock was purchased at an average price of $150.82 per share, for a total transaction of $1,010,494.00. Following the completion of the transaction, the chief executive officer now directly owns 35,904 shares of the company’s stock, valued at $5,415,041.28. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 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 approximately $1,373,643.87. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of the company. Trexquant Investment LP acquired a new position in shares of Advance Auto Parts during the fourth quarter worth $1,159,000. Mutual of America Capital Management LLC raised its position in shares of Advance Auto Parts by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 8,232 shares of the company’s stock worth $1,239,000 after buying an additional 137 shares in the last quarter. Utah Retirement Systems raised its position in shares of 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 raised its position in shares of 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. Finally, American International Group Inc. raised its position in shares of 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.
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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