Quantitative Investment Management LLC bought a new position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,874 shares of the company's stock, valued at approximately $1,132,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its holdings in shares of Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after purchasing an additional 465 shares during the period. Financial Management Professionals Inc. purchased a new stake in shares of Advance Auto Parts during the first quarter worth approximately $49,000. Exchange Traded Concepts LLC boosted its stake in Advance Auto Parts by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock worth $91,000 after buying an additional 2,140 shares during the last quarter. Blue Trust Inc. lifted its stake in Advance Auto Parts by 69.8% during the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock worth $111,000 after acquiring an additional 1,168 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased 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 worth $129,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.
Analyst Ratings Changes
A number of analysts recently issued reports on AAP shares. Roth Capital set a $50.00 target price on Advance Auto Parts and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Wells Fargo & Company increased their price objective on Advance Auto Parts from $45.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, August 15th. UBS Group set a $65.00 price objective on Advance Auto Parts and gave the stock a "neutral" rating in a research report on Tuesday, August 12th. Mizuho increased their price objective on Advance Auto Parts from $38.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Finally, Redburn Partners raised Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective for the company in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $50.80.
View Our Latest Research Report on AAP
Advance Auto Parts Price Performance
Shares of NYSE:AAP opened at $57.8650 on Monday. The company has a market cap of $3.47 billion, a P/E ratio of -9.08 and a beta of 1.05. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $55.69 and a 200-day simple moving average of $44.90. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00.
Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.Advance Auto Parts's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.
Advance Auto Parts Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's dividend payout ratio is presently -15.70%.
Insider Buying and Selling
In related news, SVP Jason Hand sold 948 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the sale, the senior vice president directly owned 9,876 shares in the company, valued at $479,183.52. This trade represents a 8.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.
Advance Auto Parts Company Profile
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Free Report)
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.
See Also
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