Golden State Equity Partners acquired a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP – Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,102 shares of the company’s stock, valued at approximately $256,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its stake in shares of Advance Auto Parts by 23.8% during the first quarter. Sequoia Financial Advisors LLC now owns 44,104 shares of the company’s stock valued at $5,363,000 after purchasing an additional 8,466 shares in the last quarter. Brookstone Capital Management acquired a new stake in Advance Auto Parts in the first quarter valued at approximately $13,121,000. Personal CFO Solutions LLC boosted its stake in Advance Auto Parts by 11.2% in the first quarter. Personal CFO Solutions LLC now owns 3,553 shares of the company’s stock valued at $432,000 after acquiring an additional 359 shares in the last quarter. Brandywine Global Investment Management LLC boosted its stake in Advance Auto Parts by 92.0% in the fourth quarter. Brandywine Global Investment Management LLC now owns 84,994 shares of the company’s stock valued at $12,497,000 after acquiring an additional 40,720 shares in the last quarter. Finally, Commerce Bank boosted its stake in Advance Auto Parts by 17.5% in the fourth quarter. Commerce Bank now owns 24,380 shares of the company’s stock valued at $3,585,000 after acquiring an additional 3,636 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Truist Financial lowered their target price on shares of Advance Auto Parts from $67.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, August 24th. Wells Fargo & Company decreased their price target on shares of Advance Auto Parts from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, June 1st. TheStreet cut shares of Advance Auto Parts from a “b-” rating to a “c+” rating in a report on Friday, May 26th. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Advance Auto Parts in a report on Thursday, August 24th. Finally, Northcoast Research started coverage on shares of Advance Auto Parts in a report on Wednesday, June 28th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.47.
Advance Auto Parts Stock Up 0.8 %
Shares of NYSE AAP opened at $57.93 on Thursday. The company’s 50-day simple moving average is $69.11 and its 200-day simple moving average is $94.27. Advance Auto Parts, Inc. has a 52-week low of $56.40 and a 52-week high of $194.35. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07. The company has a quick ratio of 0.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.66.
Advance Auto Parts (NYSE:AAP – Get Free Report) last posted its quarterly earnings results on Wednesday, August 23rd. The company reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.23). The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.66 billion. Advance Auto Parts had a return on equity of 17.53% and a net margin of 3.08%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.74 earnings per share. Equities analysts predict that Advance Auto Parts, Inc. will post 4.72 EPS for the current fiscal year.
Advance Auto Parts Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. Advance Auto Parts’s payout ratio is presently 17.30%.
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.
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