New Age Alpha Advisors LLC Buys 10,432 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Key Points

• New Age Alpha Advisors LLC increased its stake in Advance Auto Parts by 10.5%, holding approximately 0.18% of the company with a value of $4.29 million.
• The company reported a quarterly loss of ($0.22) EPS, which was better than the consensus estimate of ($0.81), but its revenue decreased by 24.2% compared to the previous year.
• Advance Auto Parts declared a quarterly dividend of $0.25, yielding 1.8%, with a payout ratio of -17.04%.

New Age Alpha Advisors LLC grew its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 10.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,451 shares of the company's stock after acquiring an additional 10,432 shares during the quarter. New Age Alpha Advisors LLC owned 0.18% of Advance Auto Parts worth $4,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AAP. Phocas Financial Corp. increased its holdings in shares of Advance Auto Parts by 65.2% during the 1st quarter. Phocas Financial Corp. now owns 158,598 shares of the company's stock worth $6,219,000 after purchasing an additional 62,620 shares during the period. Jupiter Asset Management Ltd. bought a new position in Advance Auto Parts during the 1st quarter valued at about $5,043,000. Blueshift Asset Management LLC lifted its holdings in Advance Auto Parts by 79.5% during the 1st quarter. Blueshift Asset Management LLC now owns 26,423 shares of the company's stock valued at $1,036,000 after purchasing an additional 11,706 shares during the last quarter. Commerce Bank lifted its holdings in Advance Auto Parts by 14.5% during the 1st quarter. Commerce Bank now owns 14,240 shares of the company's stock valued at $558,000 after purchasing an additional 1,803 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of Advance Auto Parts in the first quarter worth about $568,000. Institutional investors and hedge funds own 88.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAP. Cowen reaffirmed a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Evercore ISI boosted their price objective on Advance Auto Parts from $52.00 to $56.00 and gave the company an "in-line" rating in a research report on Friday, July 25th. Redburn Atlantic upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $28.00 to $45.00 in a report on Tuesday, June 3rd. Citigroup increased their target price on shares of Advance Auto Parts from $49.00 to $60.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Bank of America increased their price target on shares of Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a research note on Friday, May 23rd. Three analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $48.53.

Insider Activity

In other news, SVP Jason Hand sold 948 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $48.52, for a total value of $45,996.96. Following the transaction, the senior vice president owned 9,876 shares in the company, valued at approximately $479,183.52. The trade was a 8.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.35% of the company's stock.

Advance Auto Parts Trading Up 1.2%

NYSE:AAP traded up $0.69 during mid-day trading on Friday, hitting $59.03. 1,132,415 shares of the company's stock were exchanged, compared to its average volume of 2,528,612. The company has a 50 day simple moving average of $54.43 and a 200-day simple moving average of $44.32. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. The firm has a market capitalization of $3.54 billion, a P/E ratio of -10.06 and a beta of 1.05.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the company earned $0.67 EPS. The firm's revenue was down 24.2% compared to the same quarter last year. As a group, research analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a $0.25 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Advance Auto Parts's payout ratio is -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.