Advance Auto Parts, Inc. (NYSE:AAP) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $167.89 and last traded at $167.60, with a volume of 47457 shares changing hands. The stock had previously closed at $164.32.

A number of research analysts have issued reports on the stock. Stephens reissued a “hold” rating and set a $155.00 target price on shares of Advance Auto Parts in a research note on Thursday, August 16th. Guggenheim reissued a “buy” rating and set a $174.00 target price on shares of Advance Auto Parts in a research note on Thursday, August 16th. Royal Bank of Canada boosted their target price on shares of Advance Auto Parts to $170.00 and gave the company an “outperform” rating in a research note on Thursday, August 16th. Deutsche Bank boosted their target price on shares of Advance Auto Parts from $155.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. Finally, Morgan Stanley boosted their target price on shares of Advance Auto Parts from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Advance Auto Parts presently has an average rating of “Hold” and a consensus target price of $143.11.

The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 2.21 and a beta of 1.18. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.29.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, August 14th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.11. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a net margin of 5.68% and a return on equity of 13.43%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. research analysts predict that Advance Auto Parts, Inc. will post 6.92 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Stockholders of record on Friday, September 21st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, September 20th. Advance Auto Parts’s dividend payout ratio is currently 4.47%.

Advance Auto Parts announced that its Board of Directors has authorized a share repurchase program on Tuesday, August 14th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

In related news, Director Nigel Travis purchased 1,250 shares of Advance Auto Parts stock in a transaction dated Friday, August 17th. The stock was bought at an average cost of $159.70 per share, with a total value of $199,625.00. Following the purchase, the director now owns 1,250 shares in the company, valued at approximately $199,625. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.50% of the company’s stock.

Several large investors have recently modified their holdings of AAP. Wells Fargo & Company MN raised its holdings in shares of Advance Auto Parts by 6.1% in the 1st quarter. Wells Fargo & Company MN now owns 974,351 shares of the company’s stock worth $115,509,000 after purchasing an additional 55,851 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Advance Auto Parts during the first quarter valued at approximately $377,000. Wedbush Securities Inc. acquired a new stake in shares of Advance Auto Parts during the first quarter valued at approximately $493,000. SG Americas Securities LLC raised its holdings in shares of Advance Auto Parts by 25.0% during the first quarter. SG Americas Securities LLC now owns 10,117 shares of the company’s stock valued at $1,199,000 after acquiring an additional 2,026 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Advance Auto Parts by 56.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 11,465 shares of the company’s stock valued at $1,387,000 after acquiring an additional 4,153 shares during the period.

Advance Auto Parts Company Profile (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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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