Insider Buying: Advance Auto Parts, Inc. (NYSE:AAP) Director Purchases $401,098.00 in Stock

Advance Auto Parts, Inc. (NYSE:AAP) Director Brent Windom acquired 4,700 shares of Advance Auto Parts stock in a transaction that occurred on Wednesday, March 27th. The stock was acquired at an average price of $85.34 per share, with a total value of $401,098.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $853,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Advance Auto Parts Trading Down 0.3 %

Shares of NYSE:AAP opened at $85.09 on Friday. The stock has a 50 day moving average of $71.20 and a 200 day moving average of $61.51. The company has a market cap of $5.07 billion, a PE ratio of 114.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71. Advance Auto Parts, Inc. has a 12-month low of $47.73 and a 12-month high of $129.90.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the company earned $2.88 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts expect that Advance Auto Parts, Inc. will post 3.95 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a $0.25 dividend. The ex-dividend date is Thursday, April 11th. This represents a $1.00 annualized dividend and a yield of 1.18%. Advance Auto Parts’s payout ratio is 135.14%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price target on Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Mizuho initiated coverage on Advance Auto Parts in a research note on Tuesday, March 19th. They set a “neutral” rating and a $78.00 price target for the company. Truist Financial boosted their price target on Advance Auto Parts from $53.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Finally, Barclays boosted their price target on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAP. Allworth Financial LP boosted its stake in Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the period. Dagco Inc. bought a new position in shares of Advance Auto Parts during the 4th quarter valued at approximately $25,000. Clear Street Markets LLC boosted its position in shares of Advance Auto Parts by 245.9% during the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Advance Auto Parts during the 4th quarter valued at approximately $27,000. Finally, UniSuper Management Pty Ltd bought a new position in shares of Advance Auto Parts during the 2nd quarter valued at approximately $28,000. 88.75% of the stock is currently owned by institutional investors.

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.