Traders Sell Shares of Advance Auto Parts Inc (AAP) on Strength (AAP)
Investors sold shares of Advance Auto Parts Inc (NYSE:AAP) on strength during trading on Friday. $59.21 million flowed into the stock on the tick-up and $92.32 million flowed out of the stock on the tick-down, for a money net flow of $33.11 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 $0.41 for the day and closed at $93.26
Several brokerages recently weighed in on AAP. Zacks Investment Research downgraded Advance Auto Parts from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Citigroup Inc. reduced their target price on Advance Auto Parts from $177.00 to $168.00 and set a “neutral” rating for the company in a report on Tuesday, April 25th. UBS AG reissued a “buy” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advance Auto Parts in a report on Wednesday, May 17th. Royal Bank Of Canada reduced their target price on Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating for the company in a report on Tuesday, May 2nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $160.00 price target (down previously from $185.00) on shares of Advance Auto Parts in a research report on Sunday, May 28th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $126.68.
The firm’s 50-day moving average is $105.08 and its 200-day moving average is $135.28. The firm has a market cap of $6.89 billion, a PE ratio of 18.62 and a beta of 0.87.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by $0.07. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. Advance Auto Parts’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm earned $1.90 EPS. On average, equities research analysts predict that Advance Auto Parts Inc will post $5.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Thursday, September 21st. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.
In other Advance Auto Parts news, insider Thomas Greco purchased 16,000 shares of the stock in a transaction on Friday, May 26th. The shares were purchased at an average price of $134.63 per share, with a total value of $2,154,080.00. Following the completion of the transaction, the insider now directly owns 111,030 shares in the company, valued at $14,947,968.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey C. Smith purchased 350,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were acquired at an average cost of $134.29 per share, for a total transaction of $47,001,500.00. Following the transaction, the director now owns 1,273 shares of the company’s stock, valued at $170,951.17. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 369,462 shares of company stock worth $49,617,073. Company insiders own 4.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new position in shares of Advance Auto Parts during the first quarter worth $2,028,000. BKD Wealth Advisors LLC increased its position in shares of Advance Auto Parts by 47.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,968 shares of the company’s stock worth $346,000 after buying an additional 951 shares during the period. Stevens Capital Management LP increased its position in shares of Advance Auto Parts by 7.2% in the first quarter. Stevens Capital Management LP now owns 2,819 shares of the company’s stock worth $418,000 after buying an additional 190 shares during the period. Strs Ohio increased its position in shares of Advance Auto Parts by 0.7% in the first quarter. Strs Ohio now owns 3,955 shares of the company’s stock worth $586,000 after buying an additional 28 shares during the period. Finally, Morgan Stanley increased its position in shares of Advance Auto Parts by 98.8% in the first quarter. Morgan Stanley now owns 394,710 shares of the company’s stock worth $58,518,000 after buying an additional 196,158 shares during the period.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. 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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