Advance Auto Parts (NYSE:AAP) Shares Down 4.4% - Should You Sell?

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) shares were down 4.4% on Monday . The stock traded as low as $59.93 and last traded at $59.84. Approximately 235,201 shares traded hands during trading, a decline of 91% from the average daily volume of 2,601,586 shares. The stock had previously closed at $62.56.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AAP shares. Morgan Stanley raised their price target 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. The Goldman Sachs Group cut shares of Advance Auto Parts from a "neutral" rating to a "sell" rating and decreased their target price for the company from $48.00 to $46.00 in a research note on Tuesday, June 24th. Redburn Partners raised shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 target price for the company in a research note on Tuesday, June 3rd. Evercore ISI raised their target price on shares of Advance Auto Parts from $50.00 to $52.00 and gave the company an "in-line" rating in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company set a $35.00 target price on shares of Advance Auto Parts and gave the company an "equal weight" rating in a research note on Monday, May 19th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $46.53.

Advance Auto Parts Trading Down 0.4%

The firm's 50-day simple moving average is $46.11 and its 200 day simple moving average is $42.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -10.61 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its 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 firm had revenue of $2.58 billion during 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 business's quarterly revenue was down 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Equities analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. Advance Auto Parts's payout ratio is presently -17.04%.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $48.52, for a total transaction of $45,996.96. Following the sale, the senior vice president owned 9,876 shares of the company's stock, valued at approximately $479,183.52. The trade was a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company's stock.

Institutional Trading of Advance Auto Parts

Several institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC boosted its position in shares of Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after purchasing an additional 465 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Advance Auto Parts by 355.8% during the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company's stock worth $44,000 after purchasing an additional 733 shares in the last quarter. Advisory Services Network LLC bought a new position in Advance Auto Parts in the 4th quarter valued at about $46,000. Financial Management Professionals Inc. bought a new position in Advance Auto Parts in the 1st quarter valued at about $49,000. Finally, Exchange Traded Concepts LLC lifted its position in Advance Auto Parts by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock valued at $91,000 after acquiring an additional 2,140 shares in the last quarter. Institutional investors own 88.75% of the company's stock.

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.