Advance Auto Parts (NYSE:AAP) Stock Price Down 4.3% – Should You Sell?

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Advance Auto Parts in a report on Friday, December 13th. They issued a “market perform” rating and a $45.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. Truist Financial decreased their price target on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Finally, Royal Bank of Canada reduced their target price on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and an average price target of $48.40.

Advance Auto Parts Price Performance

The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 62.88 and a beta of 1.16. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock’s 50 day simple moving average is $41.89 and its 200-day simple moving average is $48.12.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share 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 analysts’ expectations of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.82) earnings per share. Equities research analysts anticipate that Advance Auto Parts, Inc. will post -0.54 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s payout ratio is 136.99%.

Insider Buying and Selling at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Institutional Trading of Advance Auto Parts

Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc raised its holdings in 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 acquiring an additional 365 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Advance Auto Parts in the 2nd quarter valued at approximately $41,000. Blue Trust Inc. grew its stake in shares of Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after buying an additional 436 shares during the period. GAMMA Investing LLC grew its stake in shares of Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after buying an additional 1,047 shares during the period. Finally, KBC Group NV lifted its stake in Advance Auto Parts by 29.1% during the third 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. 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.