Advance Auto Parts (NYSE:AAP) Reaches New 52-Week High - Still a Buy?

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $66.48 and last traded at $65.69, with a volume of 2897437 shares trading hands. The stock had previously closed at $62.80.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Redburn Atlantic raised Advance Auto Parts from a "sell" rating to a "neutral" rating and raised their price target for the company from $28.00 to $45.00 in a report on Tuesday, June 3rd. Cowen reaffirmed a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Raymond James Financial lifted their price target on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research note on Monday, May 26th. Wells Fargo & Company set a $35.00 price objective on shares of Advance Auto Parts and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $50.00 price objective (up from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $48.53.

Advance Auto Parts Price Performance

The stock has a 50 day moving average of $52.05 and a two-hundred day moving average of $43.55. 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 capitalization of $3.52 billion, a P/E ratio of -10.00 and a beta of 1.04.

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

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, July 11th. Advance Auto Parts's dividend payout ratio is currently -17.04%.

Insider Buying and Selling

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction that occurred on 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 directly owned 9,876 shares of the company's stock, valued at $479,183.52. The trade was a 8.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Advance Auto Parts by 34.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock worth $316,160,000 after purchasing an additional 1,706,328 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Advance Auto Parts by 1.9% during the 2nd quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company's stock worth $204,322,000 after purchasing an additional 82,456 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Advance Auto Parts by 3.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,552,475 shares of the company's stock worth $139,293,000 after purchasing an additional 102,921 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Advance Auto Parts by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock worth $107,500,000 after purchasing an additional 13,412 shares in the last quarter. Finally, Eminence Capital LP acquired a new stake in shares of Advance Auto Parts during the 4th quarter worth approximately $87,214,000. 88.75% of the stock is 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.