Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) shares gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $51.93, but opened at $49.91. Advance Auto Parts shares last traded at $47.96, with a volume of 1,137,258 shares changing hands.
Specifically, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction 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 sale, the senior vice president now directly owns 9,876 shares in the company, valued at approximately $479,183.52. This trade represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Wall Street Analyst Weigh In
AAP has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on shares of Advance Auto Parts from $50.00 to $52.00 and gave the stock an "in-line" rating in a report on Tuesday. DA Davidson boosted their target price on shares of Advance Auto Parts from $45.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Raymond James Financial raised their price target on shares of Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research note on Monday, May 26th. Truist Financial dropped their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, Royal Bank Of Canada reduced their price objective 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. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Advance Auto Parts presently has a consensus rating of "Hold" and a consensus price target of $46.25.
Check Out Our Latest Stock Analysis on Advance Auto Parts
Advance Auto Parts Trading Down 0.1%
The firm's 50 day moving average is $41.64 and its 200 day moving average is $41.77. 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 company has a market cap of $2.77 billion, a PE ratio of -7.88 and a beta of 1.06.
Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.81) by $0.59. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.51 billion. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The business'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 earned $0.67 EPS. On average, equities analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.
Advance Auto Parts Dividend Announcement
The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. Advance Auto Parts's dividend payout ratio is currently -17.04%.
Institutional Trading of Advance Auto Parts
A number of large investors have recently modified their holdings of AAP. Hexagon Capital Partners LLC increased its position in shares of Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after purchasing an additional 465 shares during the last quarter. Vision Financial Markets LLC bought a new position in shares of Advance Auto Parts in the 4th quarter worth $42,000. Advisory Services Network LLC purchased a new stake in shares of Advance Auto Parts during the 4th quarter valued at $46,000. Financial Management Professionals Inc. bought a new stake in shares of Advance Auto Parts during the 1st quarter worth $49,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Advance Auto Parts by 1,258.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock worth $91,000 after acquiring an additional 2,140 shares during the last quarter. Institutional investors own 88.75% of the company's stock.
Advance Auto Parts Company Profile
(
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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.
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