Shares of Advance Auto Parts, Inc. (NYSE:AAP) reached a new 52-week high on Tuesday . The company traded as high as $167.89 and last traded at $167.60, with a volume of 47457 shares trading hands. The stock had previously closed at $164.32.
AAP has been the subject of a number of analyst reports. TheStreet raised Advance Auto Parts from a “c+” rating to a “b-” rating in a research note on Friday, June 1st. Argus set a $155.00 price objective on Advance Auto Parts and gave the company a “buy” rating in a research note on Friday, July 6th. ValuEngine raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. UBS Group reissued a “buy” rating and set a $160.00 price objective on shares of Advance Auto Parts in a research note on Friday, June 22nd. Finally, Credit Suisse Group raised Advance Auto Parts to a “buy” rating and set a $130.00 price objective for the company in a research note on Wednesday, May 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $143.11.
The company has a market capitalization of $12.15 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 2.21 and a beta of 1.18. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 0.29.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, August 14th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.11. Advance Auto Parts had a return on equity of 13.43% and a net margin of 5.68%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the firm posted $1.48 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. analysts predict that Advance Auto Parts, Inc. will post 6.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Friday, September 21st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, September 20th. Advance Auto Parts’s dividend payout ratio is currently 4.47%.
Advance Auto Parts declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 14th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the company to reacquire up to 5.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
In other news, Director Nigel Travis acquired 1,250 shares of the stock in a transaction on Friday, August 17th. The stock was acquired at an average price of $159.70 per share, with a total value of $199,625.00. Following the completion of the transaction, the director now owns 1,250 shares of the company’s stock, valued at approximately $199,625. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Piedmont Investment Advisors LLC purchased a new position in Advance Auto Parts during the second quarter valued at $116,000. Tower Research Capital LLC TRC purchased a new position in Advance Auto Parts during the second quarter valued at $117,000. Federated Investors Inc. PA purchased a new position in Advance Auto Parts during the second quarter valued at $124,000. Stratos Wealth Partners LTD. lifted its position in Advance Auto Parts by 1,148.4% during the first quarter. Stratos Wealth Partners LTD. now owns 1,186 shares of the company’s stock valued at $141,000 after buying an additional 1,091 shares during the period. Finally, First Mercantile Trust Co. purchased a new position in Advance Auto Parts during the second quarter valued at $162,000.
About Advance Auto Parts (NYSE:AAP)
Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.
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