Connor Clark & Lunn Investment Management Ltd. Buys Shares of 277,200 Advance Auto Parts, Inc. $AAP

Key Points

• Connor Clark & Lunn Investment Management purchased 277,200 shares of Advance Auto Parts, valued at approximately $17.25 million, giving it a 0.46% stake. Institutional investors collectively own 88.7% of the company.
• Wall Street remains cautious, with a consensus “Hold” rating and an average price target of $50.80. The stock recently opened at $43.63, below its 50- and 200-day moving averages.
• Advance Auto Parts beat quarterly earnings expectations, reporting $1.03 EPS versus the $0.81 consensus, although revenue declined 0.5% year over year to $2 billion. The company maintained a $0.25 quarterly dividend, representing a 2.3% yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 277,200 shares of the company's stock, valued at approximately $17,247,000. Connor Clark & Lunn Investment Management Ltd. owned 0.46% of Advance Auto Parts as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of AAP. Allworth Financial LP acquired a new position in shares of Advance Auto Parts during the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Advance Auto Parts in the third quarter worth about $31,000. State of Wyoming acquired a new stake in Advance Auto Parts in the second quarter worth about $34,000. AlphaCore Capital LLC grew its position in Advance Auto Parts by 53.6% in the 4th quarter. AlphaCore Capital LLC now owns 883 shares of the company's stock valued at $35,000 after buying an additional 308 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Advance Auto Parts by 184.5% in the 4th quarter. Hantz Financial Services Inc. now owns 919 shares of the company's stock valued at $36,000 after buying an additional 596 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on AAP shares. Truist Financial set a $43.00 target price on shares of Advance Auto Parts and gave the company a "hold" rating in a research note on Thursday, August 20th. Morgan Stanley reduced their price target on shares of Advance Auto Parts from $65.00 to $52.00 and set an "equal weight" rating for the company in a research note on Friday, August 21st. Royal Bank Of Canada decreased their price objective on shares of Advance Auto Parts from $67.00 to $52.00 and set a "sector perform" rating for the company in a report on Friday, August 21st. Mizuho raised their price objective on shares of Advance Auto Parts from $54.00 to $58.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group set a $49.00 target price on Advance Auto Parts in a report on Friday. Two research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $50.80.

Advance Auto Parts Trading Up 0.0%

Shares of AAP stock opened at $43.63 on Wednesday. The stock has a 50-day simple moving average of $55.89 and a 200 day simple moving average of $55.26. The stock has a market capitalization of $2.64 billion, a P/E ratio of 31.85, a P/E/G ratio of 0.71 and a beta of 1.03. Advance Auto Parts, Inc. has a fifty-two week low of $37.89 and a fifty-two week high of $65.21. The company has a quick ratio of 0.85, a current ratio of 1.75 and a debt-to-equity ratio of 1.50.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Thursday, August 20th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.81 by $0.22. Advance Auto Parts had a net margin of 0.97% and a return on equity of 9.84%. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the previous year, the business earned $0.69 earnings per share. Advance Auto Parts's revenue for the quarter was down .5% compared to the same quarter last year. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. On average, sell-side analysts expect that Advance Auto Parts, Inc. will post 2.95 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. Advance Auto Parts's payout ratio is currently 72.99%.

About Advance Auto Parts

Advance Auto Parts, Inc NYSE: AAP is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company's product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.

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