Gamco Investors INC. ET AL Has $40.10 Million Stake in Advance Auto Parts, Inc. $AAP

Key Points

• Gamco Investors increased its stake in Advance Auto Parts by 10.7% in the first quarter, holding 760,222 shares worth about $40.1 million.
• Advance Auto Parts recently posted stronger-than-expected quarterly results, with EPS of $0.77 versus estimates of $0.39 and revenue of $2.61 billion versus the $2.05 billion consensus.
• Wall Street remains cautious: analysts have a consensus rating of "Hold" with an average target price of $58.66, while the stock was last seen trading at $55.76.

Gamco Investors INC. ET AL grew its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 10.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 760,222 shares of the company's stock after purchasing an additional 73,565 shares during the period. Gamco Investors INC. ET AL owned about 1.26% of Advance Auto Parts worth $40,102,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AAP. Price T Rowe Associates Inc. MD grew its position in Advance Auto Parts by 18.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,474,546 shares of the company's stock valued at $293,751,000 after purchasing an additional 1,190,094 shares in the last quarter. Pzena Investment Management LLC lifted its position in Advance Auto Parts by 8.2% in the 1st quarter. Pzena Investment Management LLC now owns 4,301,089 shares of the company's stock worth $226,882,000 after buying an additional 327,596 shares in the last quarter. Federated Hermes Inc. lifted its position in Advance Auto Parts by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 2,811,675 shares of the company's stock worth $110,499,000 after buying an additional 117,648 shares in the last quarter. State Street Corp boosted its stake in shares of Advance Auto Parts by 3.9% during the 4th quarter. State Street Corp now owns 2,499,981 shares of the company's stock valued at $98,249,000 after buying an additional 92,861 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Advance Auto Parts by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,127,948 shares of the company's stock valued at $112,243,000 after buying an additional 282,591 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAP. TD Cowen restated a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 22nd. JPMorgan Chase & Co. cut their price objective on Advance Auto Parts from $64.00 to $59.00 and set a "neutral" rating for the company in a report on Friday, May 15th. Mizuho lifted their price objective on Advance Auto Parts from $54.00 to $58.00 and gave the company a "neutral" rating in a research report on Tuesday, May 26th. Truist Financial boosted their target price on Advance Auto Parts from $55.00 to $62.00 and gave the company a "hold" rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company upped their target price on Advance Auto Parts from $50.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Advance Auto Parts has an average rating of "Hold" and a consensus target price of $58.66.

Advance Auto Parts Stock Performance

AAP stock opened at $55.76 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 77.45, a P/E/G ratio of 0.88 and a beta of 1.03. Advance Auto Parts, Inc. has a 12 month low of $37.89 and a 12 month high of $65.21. The firm has a 50 day moving average of $57.31 and a two-hundred day moving average of $53.80.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.39 by $0.38. Advance Auto Parts had a net margin of 0.51% and a return on equity of 8.95%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business posted $0.40 EPS. Advance Auto Parts's quarterly revenue was up 1.2% on a year-over-year basis. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.100 EPS. As a group, equities analysts anticipate that Advance Auto Parts, Inc. will post 2.94 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, July 10th. Advance Auto Parts's dividend payout ratio is presently 138.89%.

Advance Auto Parts Profile

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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