UBS Asset Management Americas Inc. lifted its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 197,802 shares of the company’s stock after buying an additional 9,561 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.27% of Advance Auto Parts worth $23,062,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cleararc Capital Inc. grew its holdings in shares of Advance Auto Parts by 0.4% during the first quarter. Cleararc Capital Inc. now owns 1,802 shares of the company’s stock worth $267,000 after buying an additional 7 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Advance Auto Parts by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,486 shares of the company’s stock worth $640,000 after buying an additional 14 shares in the last quarter. Strs Ohio grew its holdings in shares of Advance Auto Parts by 0.7% during the first quarter. Strs Ohio now owns 3,955 shares of the company’s stock worth $586,000 after buying an additional 28 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Advance Auto Parts by 3.0% during the first quarter. Pacer Advisors Inc. now owns 1,517 shares of the company’s stock worth $225,000 after buying an additional 44 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Advance Auto Parts by 0.8% during the second quarter. Advisors Asset Management Inc. now owns 5,676 shares of the company’s stock worth $662,000 after buying an additional 47 shares in the last quarter.
A number of equities research analysts have recently commented on AAP shares. Morgan Stanley reiterated an “overweight” rating and set a $125.00 price target (down from $160.00) on shares of Advance Auto Parts in a report on Thursday, July 6th. Bank of America Corporation downgraded shares of Advance Auto Parts from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $150.00 to $90.00 in a report on Friday, July 7th. BTIG Research restated a “sell” rating and issued a $109.00 target price (down from $120.00) on shares of Advance Auto Parts in a report on Thursday, June 22nd. Deutsche Bank AG restated a “buy” rating and issued a $139.00 target price (down from $164.00) on shares of Advance Auto Parts in a report on Friday, July 21st. Finally, Cleveland Research downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a report on Wednesday, June 28th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $123.08.
Advance Auto Parts Inc (AAP) opened at 99.20 on Friday. Advance Auto Parts Inc has a 52-week low of $82.21 and a 52-week high of $177.83. The firm has a market capitalization of $7.29 billion, a PE ratio of 16.00 and a beta of 0.90. The stock’s 50 day moving average is $99.61 and its 200-day moving average is $125.12.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.07). Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company posted $1.90 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts expect that Advance Auto Parts Inc will post $5.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.24%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.
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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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