Goodman Financial Corp Acquires 59,676 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Goodman Financial Corp increased its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 34.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,379 shares of the company's stock after buying an additional 59,676 shares during the quarter. Advance Auto Parts accounts for approximately 2.1% of Goodman Financial Corp's holdings, making the stock its 28th biggest holding. Goodman Financial Corp owned about 0.39% of Advance Auto Parts worth $9,178,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Advance Auto Parts in the third quarter worth $14,684,000. Wolverine Asset Management LLC increased its position in Advance Auto Parts by 212.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company's stock valued at $1,223,000 after purchasing an additional 21,320 shares during the period. BW Gestao de Investimentos Ltda. purchased a new position in Advance Auto Parts during the 2nd quarter valued at $7,916,000. Quest Partners LLC purchased a new position in Advance Auto Parts during the 3rd quarter valued at $579,000. Finally, Renaissance Technologies LLC increased its position in Advance Auto Parts by 26.9% during the 2nd quarter. Renaissance Technologies LLC now owns 185,450 shares of the company's stock valued at $11,745,000 after purchasing an additional 39,300 shares during the period. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Up 1.0 %

Advance Auto Parts stock traded up $0.42 during mid-day trading on Tuesday, reaching $43.84. The stock had a trading volume of 2,234,604 shares, compared to its average volume of 2,073,077. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 59.06 and a beta of 1.17. The company has a 50-day moving average price of $39.06 and a two-hundred day moving average price of $52.63. Advance Auto Parts, Inc. has a one year low of $35.59 and a one year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (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 the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts's revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.82) EPS. On average, analysts expect that Advance Auto Parts, Inc. will post -0.51 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts's dividend payout ratio is currently 136.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wedbush reissued an "outperform" rating and set a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Roth Mkm reissued a "neutral" rating and set a $40.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, October 16th. DA Davidson reissued a "neutral" rating and set a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Roth Capital upgraded shares of Advance Auto Parts to a "hold" rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, August 16th. One equities 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, Advance Auto Parts has a consensus rating of "Hold" and an average target price of $48.64.

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.