Advance Auto Parts Inc. (NYSE:AAP) declared a quarterly dividend on Tuesday, August 16th. Shareholders of record on Friday, September 23rd will be paid a dividend of 0.06 per share on Friday, October 7th. This represents a $0.24 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Wednesday, September 21st.

Advance Auto Parts (NYSE:AAP) opened at 148.44 on Tuesday. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 23.97 and a beta of 0.98. The company’s 50 day moving average is $159.95 and its 200 day moving average is $157.77. Advance Auto Parts has a 12-month low of $131.59 and a 12-month high of $201.24.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, August 16th. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.12 by $0.22. Advance Auto Parts had a return on equity of 21.90% and a net margin of 4.80%. The business earned $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm earned $2.27 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, equities analysts anticipate that Advance Auto Parts will post $7.34 earnings per share for the current year.

In other Advance Auto Parts news, EVP Robert B. Cushing bought 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were acquired at an average cost of $156.66 per share, for a total transaction of $234,990.00. Following the acquisition, the executive vice president now directly owns 6,362 shares of the company’s stock, valued at $996,670.92. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey C. Smith bought 70,000 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was acquired at an average price of $158.77 per share, for a total transaction of $11,113,900.00. Following the completion of the acquisition, the director now directly owns 1,271 shares in the company, valued at $201,796.67. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Cleararc Capital Inc. increased its stake in Advance Auto Parts by 0.9% in the second quarter. Cleararc Capital Inc. now owns 1,795 shares of the company’s stock worth $290,000 after buying an additional 16 shares during the last quarter. Comerica Bank raised its stake in Advance Auto Parts by 6.4% in the second quarter. Comerica Bank now owns 30,845 shares of the company’s stock worth $5,136,000 after buying an additional 1,847 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Advance Auto Parts by 17.8% in the second quarter. Public Sector Pension Investment Board now owns 13,900 shares of the company’s stock worth $2,247,000 after buying an additional 2,100 shares in the last quarter. National Pension Service raised its stake in Advance Auto Parts by 20.1% in the second quarter. National Pension Service now owns 56,090 shares of the company’s stock worth $9,066,000 after buying an additional 9,381 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Advance Auto Parts by 111.1% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 1,900 shares of the company’s stock worth $307,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 98.56% of the company’s stock.

AAP has been the subject of a number of research analyst reports. Vetr cut shares of Advance Auto Parts from a “hold” rating to a “sell” rating and set a $150.50 target price for the company. in a report on Tuesday, June 28th. Argus reaffirmed a “buy” rating and issued a $185.00 target price (down from $200.00) on shares of Advance Auto Parts in a report on Tuesday, June 21st. Susquehanna initiated coverage on shares of Advance Auto Parts in a report on Thursday, August 25th. They issued a “neutral” rating and a $158.00 target price for the company. Royal Bank Of Canada dropped their target price on shares of Advance Auto Parts from $180.00 to $174.00 and set an “outperform” rating for the company in a report on Thursday, September 8th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $171.00 target price (up from $155.00) on shares of Advance Auto Parts in a report on Thursday, August 18th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $170.08.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

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