Advance Auto Parts (NYSE:AAP) Reaches New 12-Month Low – Time to Sell?

Shares of Advance Auto Parts, Inc. (NYSE:AAP) reached a new 52-week low on Monday . The stock traded as low as $32.30 and last traded at $32.70, with a volume of 195230 shares traded. The stock had previously closed at $35.01.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AAP shares. Evercore ISI reduced 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 research report on Tuesday, March 11th. Barclays reduced their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Royal Bank of Canada decreased their target price on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets decreased their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Finally, Truist Financial decreased 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 note on Thursday, February 27th. One equities research 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. Based on data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and an average target price of $45.13.

Advance Auto Parts Stock Down 1.6 %

The stock has a 50-day moving average of $40.49 and a 200 day moving average of $41.54. The company has a market capitalization of $1.78 billion, a PE ratio of 40.05, a P/E/G ratio of 1.98 and a beta of 1.07. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 3.35%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insider Transactions at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the purchase, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents a 75.35 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $36.79 per share, with a total value of $55,185.00. Following the acquisition, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors and hedge funds have recently made changes to their positions in the business. 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. Allworth Financial LP increased its stake in Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after purchasing an additional 818 shares during the period. Vision Financial Markets LLC purchased a new position in Advance Auto Parts in the 4th quarter worth approximately $42,000. Advisory Services Network LLC bought a new stake in Advance Auto Parts in the fourth quarter valued at approximately $46,000. Finally, GAMMA Investing LLC boosted its stake in shares of Advance Auto Parts by 198.3% during the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after purchasing an additional 1,047 shares during the period. 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.