Advance Auto Parts, Inc. (NYSE:AAP) SVP Jason Hand Sells 948 Shares

Advance Auto Parts, Inc. (NYSE:AAP) SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 9,876 shares of the company’s stock, valued at approximately $479,183.52. This trade represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $51.97 on Tuesday. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $66.08. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -8.85 and a beta of 1.06. The company has a fifty day simple moving average of $40.72 and a 200-day simple moving average of $41.70. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.59. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations 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 company’s revenue was down 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. On average, equities analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. Advance Auto Parts’s payout ratio is -17.04%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AAP shares. Wall Street Zen raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Saturday. Redburn Atlantic raised shares of Advance Auto Parts from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $28.00 to $45.00 in a report on Tuesday, June 3rd. Redburn Partners raised shares of Advance Auto Parts from a “sell” rating to a “neutral” rating and set a $45.00 price target for the company in a report on Tuesday, June 3rd. Citigroup cut their price target on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Cowen reissued a “hold” rating on shares of Advance Auto Parts in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and an average target price of $46.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc boosted its position in shares of Advance Auto Parts by 3.9% during the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock valued at $277,000 after acquiring an additional 221 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in Advance Auto Parts by 10.0% during the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company’s stock worth $129,000 after purchasing an additional 300 shares during the period. Sovran Advisors LLC increased its stake in Advance Auto Parts by 4.3% during the first quarter. Sovran Advisors LLC now owns 7,822 shares of the company’s stock worth $307,000 after purchasing an additional 322 shares during the period. Studio Investment Management LLC increased its stake in Advance Auto Parts by 6.7% during the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company’s stock worth $263,000 after purchasing an additional 350 shares during the period. Finally, Investors Research Corp increased its stake in Advance Auto Parts by 7.1% during the first quarter. Investors Research Corp now owns 5,625 shares of the company’s stock worth $221,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds 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.