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

Several other large investors also recently modified their holdings of AAP. Stifel Financial Corp grew its stake in shares of Advance Auto Parts by 27.3% during the fourth quarter. Stifel Financial Corp now owns 13,760 shares of the company's stock valued at $651,000 after acquiring an additional 2,955 shares in the last quarter. Northern Trust Corp grew its stake in shares of Advance Auto Parts by 27.4% during the fourth quarter. Northern Trust Corp now owns 444,743 shares of the company's stock valued at $21,032,000 after acquiring an additional 95,754 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Advance Auto Parts during the fourth quarter valued at about $417,000. Ameriprise Financial Inc. grew its stake in shares of Advance Auto Parts by 60.5% during the fourth quarter. Ameriprise Financial Inc. now owns 276,788 shares of the company's stock valued at $13,089,000 after acquiring an additional 104,333 shares in the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Advance Auto Parts by 1.8% during the fourth quarter. Baird Financial Group Inc. now owns 50,307 shares of the company's stock valued at $2,379,000 after acquiring an additional 880 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAP has been the subject of several research analyst reports. Mizuho boosted their price objective on Advance Auto Parts from $44.00 to $54.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Bank of America lifted their target price on Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a research note on Friday, May 23rd. Wells Fargo & Company lifted their target price on Advance Auto Parts from $45.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, August 15th. Argus restated a "hold" rating and issued a $60.52 target price on shares of Advance Auto Parts in a research note on Friday, August 29th. Finally, Morgan Stanley lifted their target price on Advance Auto Parts from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $52.03.

Insider Activity

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the company's stock in a transaction 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 transaction, the senior vice president owned 9,876 shares of the company's stock, valued at approximately $479,183.52. This represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Advance Auto Parts Price Performance

AAP traded down $1.10 during trading on Friday, reaching $61.10. The stock had a trading volume of 1,520,412 shares, compared to its average volume of 1,345,379. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -9.59 and a beta of 1.06. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $70.00. The stock has a 50 day moving average of $59.18 and a two-hundred day moving average of $46.41.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.69 earnings per share for the quarter, topping 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%.The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, equities analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

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

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.