Advance Auto Parts (NYSE:AAP) Trading Down 3.7%

Advance Auto Parts, Inc. (NYSE:AAP) shares were down 3.7% on Wednesday . The company traded as low as $42.05 and last traded at $42.09. Approximately 1,409,539 shares changed hands during trading, a decline of 20% from the average daily volume of 1,766,154 shares. The stock had previously closed at $43.72.

Wall Street Analysts Forecast Growth

AAP has been the topic of a number of analyst reports. TD Cowen decreased their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Royal Bank of Canada reduced their price objective on shares of Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 30th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $60.00 target price on shares of Advance Auto Parts in a research note on Tuesday, August 20th. StockNews.com raised Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Finally, Bank of America lifted their price objective on Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $58.62.

Advance Auto Parts Stock Performance

The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 58.64, a P/E/G ratio of 1.49 and a beta of 1.20. The stock’s fifty day moving average is $57.50 and its two-hundred day moving average is $67.36. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 earnings per share. On average, analysts predict that Advance Auto Parts, Inc. will post 2.17 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.52%. Advance Auto Parts’s payout ratio is 144.93%.

Institutional Trading of Advance Auto Parts

Institutional investors have recently modified their holdings of the company. BW Gestao de Investimentos Ltda. bought a new position in shares of Advance Auto Parts during the 2nd quarter valued at $7,916,000. UBS Group AG grew its stake in shares of Advance Auto Parts by 337.7% during the 4th quarter. UBS Group AG now owns 811,734 shares of the company’s stock valued at $49,540,000 after purchasing an additional 626,294 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Advance Auto Parts during the 1st quarter valued at about $1,172,000. International Assets Investment Management LLC purchased a new position in shares of Advance Auto Parts in the fourth quarter worth approximately $3,363,000. Finally, Quadrant Capital Group LLC increased its holdings in Advance Auto Parts by 8.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,711 shares of the company’s stock valued at $165,000 after buying an additional 206 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

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.