Advance Auto Parts, Inc. (NYSE:AAP) Director Brad W. Buss purchased 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were acquired at an average price of $134.47 per share, for a total transaction of $161,364.00. Following the completion of the purchase, the director now directly owns 1,928 shares in the company, valued at approximately $259,258.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Advance Auto Parts, Inc. (AAP) traded up 2.60% during midday trading on Thursday, reaching $137.10. 1,313,286 shares of the company’s stock traded hands. The company has a 50-day moving average of $142.92 and a 200-day moving average of $157.60. Advance Auto Parts, Inc. has a one year low of $129.40 and a one year high of $177.83. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 24.84 and a beta of 1.10.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.20 by $0.60. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.51 earnings per share. Equities research analysts anticipate that Advance Auto Parts, Inc. will post $6.82 EPS for the current year.

Insider Buying and Selling by Quarter for Advance Auto Parts (NYSE:AAP)

The business also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 23rd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio is currently 3.94%.

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A number of analysts recently commented on the stock. Goldman Sachs Group Inc restated a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday. Citigroup Inc dropped their price target on shares of Advance Auto Parts from $168.00 to $148.00 and set a “neutral” rating on the stock in a research note on Tuesday. Morgan Stanley restated an “overweight” rating and set a $160.00 price target (down from $185.00) on shares of Advance Auto Parts in a research note on Sunday. Wedbush restated an “outperform” rating and set a $160.00 price target (down from $185.00) on shares of Advance Auto Parts in a research note on Sunday. Finally, Barclays PLC restated a “sell” rating and set a $120.00 price target on shares of Advance Auto Parts in a research note on Friday, May 26th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $163.15.

Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc raised its stake in shares of Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after buying an additional 67 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock worth $144,000 after buying an additional 218 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Advance Auto Parts during the first quarter worth about $148,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Advance Auto Parts during the first quarter worth about $192,000. 98.67% of the stock is owned by hedge funds and other institutional investors.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. 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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