Advance Auto Parts, Inc. (NYSE:AAP) SVP Sells $45,996.96 in Stock

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) SVP Jason Hand sold 948 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the transaction, the senior vice president now owns 9,876 shares of the company's stock, valued at approximately $479,183.52. This trade represents a 8.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Advance Auto Parts Stock Performance

Advance Auto Parts stock traded down $0.42 during midday trading on Thursday, reaching $46.26. 2,570,765 shares of the company's stock were exchanged, compared to its average volume of 2,514,629. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $64.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -7.88 and a beta of 1.06. The stock's 50-day simple moving average is $41.64 and its 200 day simple moving average is $41.77.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. The business had revenue of $2.58 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter last year, the company posted $0.67 earnings per share. Advance Auto Parts's quarterly revenue was down 24.2% on a year-over-year basis. On average, analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 2.16%. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.04%.

Analyst Upgrades and Downgrades

AAP has been the subject of a number of research reports. BMO Capital Markets reiterated a "market perform" rating and set a $50.00 target price (up previously from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Royal Bank Of Canada reduced their price objective on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Cowen restated a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Morgan Stanley increased their price objective on shares of Advance Auto Parts from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Finally, Bank of America increased their price objective on shares of Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $46.25.

Institutional Investors Weigh In On Advance Auto Parts

Several hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc lifted its position in Advance Auto Parts by 3.9% during the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock worth $277,000 after acquiring an additional 221 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in Advance Auto Parts by 10.0% during the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock worth $129,000 after acquiring an additional 300 shares during the last quarter. Sovran Advisors LLC lifted its position in Advance Auto Parts by 4.3% during the first quarter. Sovran Advisors LLC now owns 7,822 shares of the company's stock worth $307,000 after acquiring an additional 322 shares during the last quarter. Studio Investment Management LLC lifted its position in Advance Auto Parts by 6.7% during the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock worth $263,000 after acquiring an additional 350 shares during the last quarter. Finally, Investors Research Corp lifted its position in Advance Auto Parts by 7.1% during the first quarter. Investors Research Corp now owns 5,625 shares of the company's stock worth $221,000 after acquiring an additional 375 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.