Elgethun Capital Management Takes Position in Advance Auto Parts, Inc. $AAP

Elgethun Capital Management purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 167,284 shares of the company’s stock, valued at approximately $7,777,000. Advance Auto Parts accounts for about 1.6% of Elgethun Capital Management’s holdings, making the stock its 20th largest position. Elgethun Capital Management owned 0.28% of Advance Auto Parts as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. REAP Financial Group LLC acquired a new stake in Advance Auto Parts during the second quarter worth approximately $26,000. Parallel Advisors LLC increased its stake in Advance Auto Parts by 355.8% during the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock valued at $44,000 after purchasing an additional 733 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Advance Auto Parts by 283.0% in the 2nd quarter. Allworth Financial LP now owns 1,264 shares of the company’s stock worth $59,000 after acquiring an additional 934 shares during the last quarter. Quarry LP raised its stake in shares of Advance Auto Parts by 688.6% in the first quarter. Quarry LP now owns 2,421 shares of the company’s stock worth $95,000 after purchasing an additional 2,114 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Advance Auto Parts by 15.3% in the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the company’s stock valued at $152,000 after buying an additional 436 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

NYSE AAP opened at $51.52 on Thursday. The company’s 50 day simple moving average is $54.03 and its two-hundred day simple moving average is $53.91. 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 stock has a market capitalization of $3.09 billion, a PE ratio of -8.09 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.74 by $0.18. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Advance Auto Parts’s revenue was down 5.2% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Analysts predict that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Advance Auto Parts’s payout ratio is currently -15.90%.

Insider Buying and Selling at Advance Auto Parts

In related news, EVP Kristen L. Soler sold 7,662 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the transaction, the executive vice president directly owned 23,165 shares in the company, valued at $1,181,415. This trade represents a 24.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAP. Citigroup decreased their price target on Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Morgan Stanley lowered their price objective on shares of Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. Cfra Research raised shares of Advance Auto Parts to a “hold” rating in a research report on Thursday, October 30th. Evercore ISI lifted their price target 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. Finally, Roth Capital reiterated a “neutral” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Advance Auto Parts in a research note on Monday, October 27th. One analyst has rated the stock with a Buy rating, twenty have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Advance Auto Parts has an average rating of “Reduce” and an average price target of $51.78.

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.