Scientech Research LLC Invests $616,000 in Advance Auto Parts, Inc. $AAP

Key Points

• Scientech Research LLC has acquired a new position in Advance Auto Parts, investing approximately $616,000 for 15,716 shares in the first quarter of the fiscal year.
• Advance Auto Parts reported $0.69 earnings per share (EPS) for the last quarter, exceeding analyst expectations of $0.59, despite a 7.7% decline in year-over-year revenue.
• The company has declared a quarterly $0.25 dividend, reflecting a 1.6% yield, with the dividend payout ratio currently at -15.70%.

Scientech Research LLC bought a new position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,716 shares of the company's stock, valued at approximately $616,000.

Other institutional investors have also recently made changes to their positions in the company. AMG National Trust Bank lifted its holdings in shares of Advance Auto Parts by 38.1% in the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock worth $1,710,000 after acquiring an additional 12,040 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Advance Auto Parts by 13.0% in the 1st quarter. Raymond James Financial Inc. now owns 210,886 shares of the company's stock worth $8,269,000 after acquiring an additional 24,342 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Advance Auto Parts by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock worth $107,500,000 after acquiring an additional 13,412 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Advance Auto Parts by 455.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock worth $2,305,000 after acquiring an additional 48,198 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Advance Auto Parts by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 294,537 shares of the company's stock valued at $11,549,000 after buying an additional 6,805 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Advance Auto Parts Stock Down 1.8%

Shares of NYSE:AAP traded down $1.10 during trading hours on Friday, hitting $61.10. The company's stock had a trading volume of 1,520,412 shares, compared to its average volume of 1,251,834. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of -9.59 and a beta of 1.06. The firm's fifty day moving average price is $59.18 and its 200 day moving average price is $46.54.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The company's quarterly revenue was down 7.7% compared to the same quarter last year. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, research analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. Advance Auto Parts's payout ratio is presently -15.70%.

Insider Activity

In other news, SVP Jason Hand sold 948 shares of Advance Auto Parts 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 of the company's stock, valued at $479,183.52. The trade was a 8.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAP. Redburn Atlantic upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and upped their target price for the stock from $28.00 to $45.00 in a research note on Tuesday, June 3rd. Truist Financial upped their target price on shares of Advance Auto Parts from $51.00 to $53.00 and gave the stock a "hold" rating in a research note on Friday, August 15th. Citigroup set a $60.00 target price on shares of Advance Auto Parts in a research note on Thursday, August 14th. Cowen restated a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Finally, Evercore ISI upped their target price on shares of Advance Auto Parts from $56.00 to $58.00 and gave the stock an "in-line" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $52.03.

About Advance Auto Parts

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.