Advance Auto Parts Target of Unusually Large Options Trading (AAP)
Advance Auto Parts Inc (NYSE:AAP) saw some unusual options trading on Monday. Stock traders acquired 13,082 call options on the stock. This is an increase of approximately 943% compared to the typical daily volume of 1,254 call options.
Several research analysts recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $160.00 target price (down from $185.00) on shares of Advance Auto Parts in a research report on Sunday, May 28th. Gabelli reaffirmed a “buy” rating on shares of Advance Auto Parts in a research report on Wednesday. Deutsche Bank AG reaffirmed a “buy” rating and set a $139.00 target price (down from $164.00) on shares of Advance Auto Parts in a research report on Friday, July 21st. BidaskClub lowered Advance Auto Parts from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Finally, UBS AG reaffirmed a “buy” rating and set a $118.00 target price (down from $155.00) on shares of Advance Auto Parts in a research report on Wednesday. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $130.53.
In other news, Director Jeffrey C. Smith acquired 350,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average price of $134.29 per share, with a total value of $47,001,500.00. Following the acquisition, the director now directly owns 1,273 shares in the company, valued at approximately $170,951.17. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Adriana Karaboutis acquired 367 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were purchased at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the acquisition, the director now owns 3,043 shares in the company, valued at $411,657.04. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 369,462 shares of company stock worth $49,617,073. 4.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AAP. Verition Fund Management LLC increased its position in Advance Auto Parts by 2.9% in the second quarter. Verition Fund Management LLC now owns 6,574 shares of the company’s stock worth $766,000 after buying an additional 184 shares during the last quarter. Intellectus Partners LLC increased its position in Advance Auto Parts by 39.7% in the second quarter. Intellectus Partners LLC now owns 4,260 shares of the company’s stock worth $497,000 after buying an additional 1,210 shares during the last quarter. Security National Bank of SO Dak increased its position in Advance Auto Parts by 2.2% in the second quarter. Security National Bank of SO Dak now owns 5,052 shares of the company’s stock worth $589,000 after buying an additional 110 shares during the last quarter. Security National Bank of Sioux City Iowa IA increased its position in Advance Auto Parts by 1.1% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 6,107 shares of the company’s stock worth $712,000 after buying an additional 67 shares during the last quarter. Finally, Nomura Holdings Inc. increased its position in Advance Auto Parts by 49.1% in the second quarter. Nomura Holdings Inc. now owns 25,322 shares of the company’s stock worth $2,953,000 after buying an additional 8,334 shares during the last quarter.
Shares of Advance Auto Parts (NYSE AAP) opened at 91.51 on Thursday. Advance Auto Parts has a 12 month low of $82.21 and a 12 month high of $177.83. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 16.58 and a beta of 0.87. The company has a 50-day moving average price of $106.41 and a 200-day moving average price of $136.10.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the company earned $1.90 earnings per share. Advance Auto Parts’s quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts anticipate that Advance Auto Parts will post $6.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, September 21st. Advance Auto Parts’s payout ratio is currently 4.36%.
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Advance Auto Parts Company Profile
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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