REAP Financial Group LLC Takes Position in Advance Auto Parts, Inc. $AAP

REAP Financial Group LLC purchased a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the second quarter, HoldingsChannel.com reports. The fund purchased 549 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors have also recently made changes to their positions in the company. AMG National Trust Bank boosted its holdings in shares of Advance Auto Parts by 38.1% during the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company’s stock valued at $1,710,000 after acquiring an additional 12,040 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Advance Auto Parts by 13.0% during the 1st quarter. Raymond James Financial Inc. now owns 210,886 shares of the company’s stock valued at $8,269,000 after acquiring an additional 24,342 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Advance Auto Parts by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company’s stock worth $107,500,000 after buying an additional 13,412 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Advance Auto Parts by 455.0% in the first quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company’s stock worth $2,305,000 after buying an additional 48,198 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Advance Auto Parts by 2.4% in the first quarter. Principal Financial Group Inc. now owns 294,537 shares of the company’s stock worth $11,549,000 after buying an additional 6,805 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AAP. Mizuho raised their price objective on shares of Advance Auto Parts from $44.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Truist Financial raised their price objective on shares of Advance Auto Parts from $51.00 to $53.00 and gave the stock a “hold” rating in a report on Friday, August 15th. Wall Street Zen raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. The Goldman Sachs Group downgraded shares of Advance Auto Parts from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $48.00 to $46.00 in a report on Tuesday, June 24th. Finally, Evercore ISI raised their price objective on shares of Advance Auto Parts from $56.00 to $58.00 and gave the stock an “in-line” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $52.03.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $52.50 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $70.00. The company has a market capitalization of $3.15 billion, a P/E ratio of -8.24 and a beta of 1.08. The firm’s 50 day simple moving average is $59.30 and its two-hundred day simple moving average is $49.37.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Research analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -15.70%.

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.