Advance Auto Parts, Inc. (NYSE:AAP) Stock Position Lifted by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lifted its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 113.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,200 shares of the company's stock after purchasing an additional 7,030 shares during the period. Salem Investment Counselors Inc.'s holdings in Advance Auto Parts were worth $518,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AAP. CIBC Asset Management Inc lifted its position in shares of Advance Auto Parts by 3.9% during the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock worth $277,000 after purchasing an additional 221 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of Advance Auto Parts by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock worth $1,242,000 after purchasing an additional 281 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in Advance Auto Parts by 10.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock valued at $129,000 after purchasing an additional 300 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in shares of Advance Auto Parts by 5.0% in the 4th quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company's stock worth $316,000 after acquiring an additional 317 shares in the last quarter. Finally, Studio Investment Management LLC raised its stake in shares of Advance Auto Parts by 6.7% during the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock worth $263,000 after buying an additional 350 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AAP shares. Cowen restated a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. UBS Group reiterated a "neutral" rating and set a $50.00 target price (up from $36.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Citigroup decreased their price target on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Redburn Partners upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective on the stock in a research report on Tuesday, June 3rd. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $48.00 price target (up from $43.00) on shares of Advance Auto Parts in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $46.01.

Advance Auto Parts Stock Performance

Shares of AAP stock traded down $2.40 during mid-day trading on Friday, hitting $48.41. The stock had a trading volume of 2,127,383 shares, compared to its average volume of 2,478,259. The company's 50-day simple moving average is $38.71 and its 200-day simple moving average is $41.49. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $67.03. The firm has a market cap of $2.90 billion, a PE ratio of 66.31, a PEG ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. The firm had revenue of $2.58 billion during the quarter, compared to analysts' expectations of $2.51 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The firm's quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. Sell-side analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a $0.25 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. Advance Auto Parts's payout ratio is currently -17.04%.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company 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.