Dynamic Technology Lab Private Ltd acquired a new stake in Advance Auto Parts Inc (NYSE:AAP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,280 shares of the company’s stock, valued at approximately $921,000.
Several other hedge funds have also made changes to their positions in AAP. Legal & General Group Plc grew its holdings in Advance Auto Parts by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 358,722 shares of the company’s stock worth $41,825,000 after acquiring an additional 18,209 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Advance Auto Parts by 78.0% during the 2nd quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock worth $103,155,000 after buying an additional 387,673 shares during the last quarter. Tobam purchased a new stake in shares of Advance Auto Parts during the 2nd quarter worth approximately $118,000. Vanguard Group Inc. lifted its position in shares of Advance Auto Parts by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,966,176 shares of the company’s stock worth $812,186,000 after buying an additional 185,970 shares during the last quarter. Finally, ARGA Investment Management LP lifted its position in shares of Advance Auto Parts by 89.0% during the 2nd quarter. ARGA Investment Management LP now owns 53,300 shares of the company’s stock worth $6,214,000 after buying an additional 25,100 shares during the last quarter.
Several brokerages have recently weighed in on AAP. Bank of America reiterated an “underperform” rating and issued a $87.50 price target on shares of Advance Auto Parts in a research report on Tuesday, September 5th. Credit Suisse Group set a $100.00 price target on shares of Advance Auto Parts and gave the company a “buy” rating in a research report on Wednesday, August 16th. Royal Bank Of Canada reduced their price target on shares of Advance Auto Parts from $125.00 to $102.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 16th. Jefferies Group cut their price objective on shares of Advance Auto Parts from $130.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. Finally, Citigroup downgraded shares of Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, October 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $104.89.
Advance Auto Parts Inc (AAP) traded up $0.11 during trading hours on Thursday, hitting $97.61. 1,171,737 shares of the stock were exchanged, compared to its average volume of 1,692,691. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.32 and a current ratio of 1.52. Advance Auto Parts Inc has a fifty-two week low of $78.81 and a fifty-two week high of $177.83. The firm has a market cap of $7,210.00, a PE ratio of 18.03, a PEG ratio of 1.82 and a beta of 1.00.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, November 14th. The company reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.18. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. analysts forecast that Advance Auto Parts Inc will post 5.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be paid a $0.06 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Advance Auto Parts’s payout ratio is 5.03%.
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Advance Auto Parts Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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