Arkadios Wealth Advisors Acquires 11,956 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Arkadios Wealth Advisors raised its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 225.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,269 shares of the company’s stock after purchasing an additional 11,956 shares during the period. Arkadios Wealth Advisors’ holdings in Advance Auto Parts were worth $673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Kovack Advisors Inc. grew its stake in shares of Advance Auto Parts by 0.7% during the first quarter. Kovack Advisors Inc. now owns 22,727 shares of the company’s stock worth $1,934,000 after acquiring an additional 150 shares during the last quarter. Diversified Trust Co increased its position in shares of Advance Auto Parts by 3.5% in the second quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock valued at $430,000 after buying an additional 232 shares in the last quarter. OLD National Bancorp IN raised its position in shares of 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 purchasing an additional 237 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of Advance Auto Parts by 267.7% during the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after purchasing an additional 257 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Advance Auto Parts by 8.5% in the first quarter. Covestor Ltd now owns 3,395 shares of the company’s stock worth $289,000 after buying an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Shares of AAP opened at $35.85 on Wednesday. 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 stock’s 50 day moving average is $41.71 and its two-hundred day moving average is $57.70. Advance Auto Parts, Inc. has a twelve month low of $35.83 and a twelve month high of $88.56. The firm has a market capitalization of $2.14 billion, a PE ratio of 51.96, a P/E/G ratio of 1.25 and a beta of 1.16.

Advance Auto Parts (NYSE:AAP) last posted its quarterly 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 analysts’ expectations of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 earnings per share. Research analysts anticipate that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 144.93%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAP. Roth Mkm reissued a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Mizuho reissued a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. TD Cowen lowered their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 target price on the stock in a report on Tuesday, October 15th. Finally, Evercore ISI cut their price target on shares of Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.92.

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.