Advance Auto Parts, Inc. (NYSE:AAP) Director Eugene I. Lee, Jr. Purchases 14,640 Shares

Advance Auto Parts, Inc. (NYSE:AAP) Director Eugene I. Lee, Jr. acquired 14,640 shares of Advance Auto Parts stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the acquisition, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Advance Auto Parts Stock Up 3.1 %

Shares of Advance Auto Parts stock opened at $37.67 on Thursday. The company has a market capitalization of $2.25 billion, a P/E ratio of 51.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The business has a 50-day moving average of $44.56 and a two-hundred day moving average of $42.36. Advance Auto Parts, Inc. has a 1 year low of $33.08 and a 1 year high of $88.56.

Advance Auto Parts Dividend Announcement

The business 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. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -17.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Truist Financial cut their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada lowered their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. DA Davidson restated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Evercore ISI lowered their target price on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.13.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Advance Auto Parts during the third quarter worth $14,684,000. Wolverine Asset Management LLC boosted its stake in Advance Auto Parts by 212.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock worth $1,223,000 after purchasing an additional 21,320 shares during the period. Blue Trust Inc. increased its holdings in Advance Auto Parts by 75.9% during the 4th quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock worth $100,000 after purchasing an additional 914 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Advance Auto Parts in the 3rd quarter valued at about $579,000. Finally, Moody National Bank Trust Division bought a new stake in shares of Advance Auto Parts in the fourth quarter valued at about $1,196,000. 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.