Advance Auto Parts (NYSE:AAP) Shares Up 4.7% Following Insider Buying Activity

Shares of Advance Auto Parts, Inc. (NYSE:AAP) shot up 4.7% during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as $37.22 and last traded at $37.02. 507,306 shares were traded during trading, a decline of 77% from the average session volume of 2,227,769 shares. The stock had previously closed at $35.37.

Specifically, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents a 75.35 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAP. Barclays dropped their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. BMO Capital Markets dropped their price target on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. UBS Group raised their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Royal Bank of Canada dropped their target price on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, Citigroup dropped their target price on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.13.

Advance Auto Parts Stock Performance

The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a 50 day simple moving average of $44.78 and a two-hundred day simple moving average of $42.45. The stock has a market capitalization of $2.18 billion, a P/E ratio of 50.04, a P/E/G ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.74%. Advance Auto Parts’s dividend payout ratio is currently -17.86%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AAP. Versant Capital Management Inc boosted its stake in shares of Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after acquiring an additional 365 shares during the period. Allworth Financial LP boosted its stake in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after acquiring an additional 818 shares during the period. Vision Financial Markets LLC bought a new position in shares of Advance Auto Parts during the 4th quarter worth approximately $42,000. Advisory Services Network LLC bought a new position in shares of Advance Auto Parts during the 4th quarter worth approximately $46,000. Finally, KBC Group NV boosted its stake in shares of Advance Auto Parts by 29.1% during the 3rd quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after acquiring an additional 394 shares during the period. 88.75% of the stock is currently owned by institutional investors.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.