Advance Auto Parts, Inc. (NYSE:AAP) Shares Bought by Scientech Research LLC

Scientech Research LLC raised its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 150.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,920 shares of the company's stock after purchasing an additional 14,953 shares during the quarter. Scientech Research LLC's holdings in Advance Auto Parts were worth $1,578,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Kovack Advisors Inc. raised its stake in shares of Advance Auto Parts by 0.7% in the 1st quarter. Kovack Advisors Inc. now owns 22,727 shares of the company's stock valued at $1,934,000 after acquiring an additional 150 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Advance Auto Parts by 28.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 895 shares of the company's stock worth $76,000 after buying an additional 196 shares during the period. Diversified Trust Co increased its stake in Advance Auto Parts by 3.5% during the 2nd quarter. Diversified Trust Co now owns 6,787 shares of the company's stock worth $430,000 after buying an additional 232 shares during the period. OLD National Bancorp IN increased its stake in Advance Auto Parts by 6.8% during the 2nd quarter. OLD National Bancorp IN now owns 3,697 shares of the company's stock worth $234,000 after buying an additional 237 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in Advance Auto Parts by 267.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company's stock worth $30,000 after buying an additional 257 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAP has been the topic of a number of recent analyst reports. Truist Financial dropped their price objective on shares of Advance Auto Parts from $63.00 to $46.00 and set a "hold" rating on the stock in a research report on Friday, August 23rd. JPMorgan Chase & Co. decreased their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, August 16th. Wedbush restated a "neutral" rating and issued a $55.00 target price (down previously from $65.00) on shares of Advance Auto Parts in a research note on Friday, August 23rd. Bank of America increased their price target on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an "underperform" rating in a report on Thursday, May 30th. Finally, TD Cowen decreased their price target 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. One analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $56.54.

Advance Auto Parts Price Performance

NYSE AAP opened at $40.24 on Friday. The stock's 50-day moving average price is $51.34 and its two-hundred day moving average price is $64.63. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.40 billion, a PE ratio of 58.32, a PEG ratio of 1.32 and a beta of 1.17. Advance Auto Parts, Inc. has a 1 year low of $37.51 and a 1 year high of $88.56.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.22). The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. Advance Auto Parts's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. On average, analysts predict that Advance Auto Parts, Inc. will post 2.19 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. Advance Auto Parts's dividend payout ratio is 144.93%.

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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