Dynamic Technology Lab Private Ltd raised its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 19.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,108 shares of the company's stock after purchasing an additional 12,704 shares during the period. Dynamic Technology Lab Private Ltd owned 0.13% of Advance Auto Parts worth $3,045,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in AAP. Mather Group LLC. boosted 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 acquiring an additional 596 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Advance Auto Parts during the second quarter worth $41,000. Blue Trust Inc. lifted its holdings in shares of Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company's stock worth $47,000 after purchasing an additional 436 shares during the period. AM Squared Ltd acquired a new stake in shares of Advance Auto Parts during the second quarter worth $63,000. Finally, KBC Group NV lifted its holdings in 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 acquiring an additional 394 shares during the period. 88.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating for the company in a research note on Monday, November 11th. Wells Fargo & Company decreased their price objective on Advance Auto Parts from $50.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Friday, September 13th. Mizuho restated a "neutral" rating and set a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Evercore ISI boosted their price target on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a "hold" rating in a research report on Wednesday, November 20th. Finally, TD Cowen dropped their price objective on Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating on the stock in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $48.64.
Check Out Our Latest Stock Report on AAP
Advance Auto Parts Price Performance
Shares of NYSE AAP traded up $2.35 during trading on Monday, reaching $43.14. The company had a trading volume of 1,471,192 shares, compared to its average volume of 2,064,104. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56. The stock has a market cap of $2.58 billion, a PE ratio of 55.88 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The business's 50 day moving average price is $39.02 and its 200-day moving average price is $52.86.
Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.53). The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company's revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.82) earnings per share. Analysts expect that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current year.
Advance Auto Parts Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, January 10th. Advance Auto Parts's payout ratio is presently 136.99%.
About Advance Auto Parts
(
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.
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