Advance Auto Parts, Inc. (NYSE:AAP) Director Buys $499,956.00 in Stock

Advance Auto Parts, Inc. (NYSE:AAP) Director Eugene I. Lee, Jr. acquired 14,640 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the purchase, the director now directly owns 34,070 shares of the company’s stock, valued at $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Advance Auto Parts Stock Up 3.7 %

Shares of AAP traded up $1.30 during trading hours on Monday, hitting $36.67. The stock had a trading volume of 4,302,376 shares, compared to its average volume of 2,318,549. The firm has a 50 day simple moving average of $44.97 and a 200-day simple moving average of $42.56. Advance Auto Parts, Inc. has a 1-year low of $33.08 and a 1-year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The firm has a market capitalization of $2.19 billion, a P/E ratio of 50.24, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Announces Dividend

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s payout ratio is presently -17.86%.

Analyst Ratings Changes

AAP has been the subject of a number of research reports. BMO Capital Markets dropped their target price on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Barclays cut their target price on shares of 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. Wells Fargo & Company upped their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. UBS Group upped their target price on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group cut their price target on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and a consensus target price of $46.69.

Institutional Trading of Advance Auto Parts

Several institutional investors and hedge funds have recently modified their holdings of AAP. Crossmark Global Holdings Inc. raised its position in Advance Auto Parts by 45.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,909 shares of the company’s stock valued at $387,000 after buying an additional 3,088 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Advance Auto Parts by 35.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 40,390 shares of the company’s stock valued at $1,575,000 after purchasing an additional 10,623 shares during the last quarter. Wolverine Asset Management LLC lifted its position in shares of Advance Auto Parts by 212.4% during the third quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock valued at $1,223,000 after purchasing an additional 21,320 shares in the last quarter. Versor Investments LP purchased a new position in Advance Auto Parts during the third quarter worth about $781,000. Finally, Victory Capital Management Inc. grew its position in Advance Auto Parts by 24.9% in the 3rd quarter. Victory Capital Management Inc. now owns 56,016 shares of the company’s stock worth $2,184,000 after purchasing an additional 11,183 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

About Advance Auto Parts

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.