Solas Capital Management LLC Takes $10.53 Million Position in Advance Auto Parts, Inc. $AAP

Solas Capital Management LLC bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the 2nd quarter, Holdings Channel.com reports. The fund bought 169,163 shares of the company’s stock, valued at approximately $10,525,000. Advance Auto Parts accounts for approximately 5.6% of Solas Capital Management LLC’s investment portfolio, making the stock its 9th largest position.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP acquired a new position in shares of Advance Auto Parts during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Advance Auto Parts in the 3rd quarter valued at approximately $31,000. State of Wyoming purchased a new stake in shares of Advance Auto Parts during the 2nd quarter worth $34,000. AlphaCore Capital LLC increased its holdings in Advance Auto Parts by 53.6% in the fourth quarter. AlphaCore Capital LLC now owns 883 shares of the company’s stock valued at $35,000 after buying an additional 308 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Advance Auto Parts by 184.5% in the fourth quarter. Hantz Financial Services Inc. now owns 919 shares of the company’s stock valued at $36,000 after buying an additional 596 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

AAP has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Advance Auto Parts from $60.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft raised Advance Auto Parts to a “buy” rating in a report on Friday, May 22nd. Guggenheim reiterated a “neutral” rating on shares of Advance Auto Parts in a research note on Friday. Weiss Ratings upgraded shares of Advance Auto Parts from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Finally, Barclays dropped their price objective on shares of Advance Auto Parts from $59.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Advance Auto Parts has a consensus rating of “Hold” and an average price target of $50.80.

Advance Auto Parts Trading Up 2.4%

NYSE AAP opened at $43.58 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.85 and a current ratio of 1.75. Advance Auto Parts, Inc. has a one year low of $37.89 and a one year high of $65.21. The company’s 50 day moving average price is $56.23 and its 200 day moving average price is $55.34. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 0.69 and a beta of 1.03.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, August 20th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. Advance Auto Parts had a net margin of 0.97% and a return on equity of 9.84%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the company earned $0.69 EPS. The firm’s revenue was down .5% on a year-over-year basis. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. On average, sell-side analysts predict that Advance Auto Parts, Inc. will post 2.97 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, October 9th. Advance Auto Parts’s payout ratio is presently 72.99%.

Advance Auto Parts Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.