Eagle Asset Management Inc. lessened its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 76.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,894 shares of the company’s stock after selling 16,225 shares during the quarter. Eagle Asset Management Inc.’s holdings in Advance Auto Parts were worth $809,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in AAP. Doyle Wealth Management acquired a new stake in Advance Auto Parts during the 2nd quarter worth $31,000. Berman Capital Advisors LLC boosted its stake in Advance Auto Parts by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock worth $33,000 after purchasing an additional 140 shares during the last quarter. Citizens Financial Group Inc RI boosted its stake in Advance Auto Parts by 466.7% during the 2nd quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock worth $34,000 after purchasing an additional 182 shares during the last quarter. Avestar Capital LLC boosted its stake in Advance Auto Parts by 625.0% during the 2nd quarter. Avestar Capital LLC now owns 406 shares of the company’s stock worth $42,000 after purchasing an additional 350 shares during the last quarter. Finally, CSat Investment Advisory L.P. boosted its stake in Advance Auto Parts by 66.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 292 shares of the company’s stock worth $45,000 after purchasing an additional 117 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.
AAP has been the topic of several analyst reports. UBS Group lifted their price target on Advance Auto Parts from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Morgan Stanley set a $185.00 price target on Advance Auto Parts and gave the stock a “buy” rating in a report on Tuesday, September 10th. Zacks Investment Research upgraded Advance Auto Parts from a “hold” rating to a “buy” rating and set a $161.00 price target on the stock in a report on Wednesday, July 31st. Nomura reiterated a “hold” rating and set a $160.00 price target (down previously from $162.00) on shares of Advance Auto Parts in a report on Wednesday. Finally, Credit Suisse Group reduced their price target on Advance Auto Parts from $195.00 to $162.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $181.53.
Shares of AAP opened at $155.90 on Thursday. The firm has a market cap of $12.05 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. Advance Auto Parts, Inc. has a 12-month low of $130.09 and a 12-month high of $186.15. The company’s 50-day moving average price is $162.77 and its 200 day moving average price is $155.29. The company has a current ratio of 1.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.76.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. Advance Auto Parts had a net margin of 4.52% and a return on equity of 15.16%. Advance Auto Parts’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. Equities research analysts forecast that Advance Auto Parts, Inc. will post 7.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.24 annualized dividend and a yield of 0.15%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 3.37%.
About Advance Auto Parts
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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