Advance Auto Parts, Inc. (NYSE:AAP) Receives $45.13 Consensus Price Target from Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has been given an average rating of “Hold” by the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $45.13.

AAP has been the topic of several recent analyst reports. DA Davidson reissued a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Truist Financial cut their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada cut their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, Barclays cut their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th.

Advance Auto Parts Trading Down 1.3 %

Shares of AAP opened at $37.63 on Wednesday. Advance Auto Parts has a twelve month low of $33.08 and a twelve month high of $88.56. The company has a market cap of $2.25 billion, a P/E ratio of 51.55, a P/E/G ratio of 1.98 and a beta of 1.27. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The company’s fifty day simple moving average is $44.17 and its 200-day simple moving average is $42.30.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s payout ratio is -17.86%.

Insider Activity

In other news, CEO Shane M. Okelly purchased 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the acquisition, the chief executive officer now owns 183,121 shares of the company’s stock, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the acquisition, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

A number of institutional investors have recently modified their holdings of AAP. Versant Capital Management Inc boosted its holdings in shares of Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after buying an additional 365 shares in the last quarter. Allworth Financial LP boosted its stake in Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after purchasing an additional 818 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Advance Auto Parts in the 4th quarter worth approximately $42,000. Advisory Services Network LLC acquired a new stake in Advance Auto Parts in the 4th quarter worth approximately $46,000. Finally, KBC Group NV boosted its stake in Advance Auto Parts by 29.1% in the 3rd quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after purchasing an additional 394 shares in the last quarter. 88.75% of the stock is currently 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.