Maple Rock Capital Partners Inc. Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Maple Rock Capital Partners Inc. acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 232,000 shares of the company's stock, valued at approximately $9,046,000. Advance Auto Parts makes up about 0.3% of Maple Rock Capital Partners Inc.'s holdings, making the stock its 27th largest position. Maple Rock Capital Partners Inc. owned about 0.39% of Advance Auto Parts as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. lifted its holdings in shares of Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $41,000 after purchasing an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Advance Auto Parts in the second quarter worth $41,000. Blue Trust Inc. increased its position in shares of Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company's stock worth $47,000 after acquiring an additional 436 shares in the last quarter. AM Squared Ltd purchased a new position in shares of Advance Auto Parts in the second quarter valued at $63,000. Finally, KBC Group NV boosted its stake in shares of Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company's stock valued at $68,000 after purchasing an additional 394 shares during the period. Hedge funds and other institutional investors own 88.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AAP shares. Wedbush restated an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. TD Cowen reduced their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating on the stock in a research note on Friday, August 23rd. DA Davidson reiterated a "neutral" rating and set a $45.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. UBS Group increased their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Finally, Roth Mkm reiterated a "neutral" rating and set a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $48.64.

Advance Auto Parts Price Performance

Advance Auto Parts stock traded up $1.37 during trading hours on Wednesday, hitting $44.01. 2,146,356 shares of the company traded hands, compared to its average volume of 2,078,021. The firm has a market cap of $2.63 billion, a P/E ratio of 58.43 and a beta of 1.21. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm's 50-day simple moving average is $39.28 and its two-hundred day simple moving average is $51.28. Advance Auto Parts, Inc. has a 1-year low of $35.59 and a 1-year high of $88.56.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) EPS. As a group, analysts forecast that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Advance Auto Parts's dividend payout ratio is currently 136.99%.

Advance Auto Parts 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.