Advance Auto Parts, Inc. (NYSE:AAP) SVP Jason Hand Sells 948 Shares

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) SVP Jason Hand sold 948 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the transaction, the senior vice president now directly owns 9,876 shares of the company's stock, valued at $479,183.52. This represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Advance Auto Parts Price Performance

Shares of NYSE:AAP traded up $2.55 during trading on Monday, hitting $51.97. 2,279,220 shares of the company's stock were exchanged, compared to its average volume of 2,484,399. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $66.08. The business's 50-day simple moving average is $40.34 and its 200 day simple moving average is $41.65. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -8.85 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The company's revenue for the quarter was down 24.2% compared to the same quarter last year. As a group, equities analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's dividend payout ratio is currently -17.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AAP shares. Wall Street Zen raised Advance Auto Parts from a "sell" rating to a "hold" rating in a report on Saturday. Evercore ISI raised their price target on Advance Auto Parts from $45.00 to $50.00 and gave the company an "in-line" rating in a report on Tuesday, June 17th. Royal Bank Of Canada cut their price target on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Citigroup cut their price target on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $50.00 price target (up previously from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $46.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc lifted its position in shares of Advance Auto Parts by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock valued at $277,000 after acquiring an additional 221 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Advance Auto Parts by 10.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock valued at $129,000 after purchasing an additional 300 shares during the last quarter. Sovran Advisors LLC increased its position in shares of Advance Auto Parts by 4.3% during the first quarter. Sovran Advisors LLC now owns 7,822 shares of the company's stock valued at $307,000 after acquiring an additional 322 shares during the last quarter. Studio Investment Management LLC increased its position in shares of Advance Auto Parts by 6.7% during the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock valued at $263,000 after acquiring an additional 350 shares during the last quarter. Finally, Investors Research Corp increased its position in shares of Advance Auto Parts by 7.1% during the first quarter. Investors Research Corp now owns 5,625 shares of the company's stock valued at $221,000 after acquiring an additional 375 shares during the last quarter. 88.75% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.