Advance Auto Parts (NYSE:AAP) Shares Down 4.3% – What’s Next?

Advance Auto Parts, Inc. (NYSE:AAP)’s stock price traded down 4.3% during mid-day trading on Friday . The stock traded as low as $46.06 and last traded at $46.07. 405,061 shares changed hands during trading, a decline of 63% from the average session volume of 1,087,307 shares. The stock had previously closed at $48.14.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Wells Fargo & Company lowered their target price on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. DA Davidson restated a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. Mizuho reiterated a “neutral” rating and issued a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group cut their target price on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.40.

Advance Auto Parts Price Performance

The firm has a market cap of $2.77 billion, a P/E ratio of 63.48 and a beta of 1.16. The business’s fifty day simple moving average is $42.08 and its 200-day simple moving average is $47.88. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. As a group, analysts forecast that Advance Auto Parts, Inc. will post -0.54 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.16%. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

Insiders Place Their Bets

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AAP. Versant Capital Management Inc raised its stake in Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Advance Auto Parts during the 2nd quarter valued at $41,000. Blue Trust Inc. lifted its holdings in shares of Advance Auto Parts by 56.7% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after acquiring an additional 436 shares during the last quarter. GAMMA Investing LLC grew its position in Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after acquiring an additional 1,047 shares in the last quarter. Finally, KBC Group NV increased its stake in Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after acquiring an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

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.