Advance Auto Parts (NYSE:AAP) Shares Up 4.7% – Still a Buy?

Advance Auto Parts, Inc. (NYSE:AAP)’s stock price traded up 4.7% on Monday . The stock traded as high as $37.22 and last traded at $37.02. 507,306 shares were traded during trading, a decline of 77% from the average session volume of 2,227,769 shares. The stock had previously closed at $35.37.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AAP shares. Truist Financial lowered their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company increased their price target on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. UBS Group increased their target price on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. DA Davidson restated a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. Finally, Citigroup lowered their price target on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and an average target price of $46.69.

Advance Auto Parts Price Performance

The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 50.82, 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 quick ratio of 0.62 and a current ratio of 1.34. The company has a 50-day simple moving average of $44.97 and a two-hundred day simple moving average of $42.56.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Institutional Trading of Advance Auto Parts

A number of hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc lifted its holdings in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after buying an additional 818 shares during the last quarter. Vision Financial Markets LLC bought a new stake in shares of Advance Auto Parts during the 4th quarter worth about $42,000. Advisory Services Network LLC acquired a new position in Advance Auto Parts in the 4th quarter valued at about $46,000. Finally, KBC Group NV raised its holdings in Advance Auto Parts by 29.1% in the 3rd quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after acquiring an additional 394 shares during the period. 88.75% of the stock is owned by institutional investors and hedge funds.

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.