Engineers Gate Manager LP lifted its holdings in shares of Advance Auto Parts Inc (NYSE:AAP) by 290.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,600 shares of the company’s stock after purchasing an additional 4,167 shares during the period. Engineers Gate Manager LP’s holdings in Advance Auto Parts were worth $653,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in AAP. Tobam acquired a new stake in Advance Auto Parts during the second quarter worth approximately $118,000. Huntington National Bank lifted its stake in Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after buying an additional 283 shares during the period. Global X Management Co. LLC boosted its holdings in shares of Advance Auto Parts by 14.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after buying an additional 139 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Advance Auto Parts by 57.5% during the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock worth $141,000 after buying an additional 441 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Advance Auto Parts by 7.5% during the 1st quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after buying an additional 67 shares in the last quarter.
Several research firms have recently weighed in on AAP. Gabelli reiterated a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, August 16th. Jefferies Group LLC restated a “buy” rating and issued a $130.00 price target on shares of Advance Auto Parts in a report on Tuesday, September 12th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $139.00 price target (down from $164.00) on shares of Advance Auto Parts in a research note on Friday, July 21st. BidaskClub lowered shares of Advance Auto Parts from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Finally, UBS AG restated a “buy” rating and issued a $118.00 target price (down from $155.00) on shares of Advance Auto Parts in a research note on Wednesday, August 16th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $123.08.
Shares of Advance Auto Parts Inc (NYSE AAP) traded down 0.30% during mid-day trading on Friday, hitting $99.20. The company had a trading volume of 1,878,241 shares. 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 $7.33 billion, a PE ratio of 19.80 and a beta of 0.90. The firm has a 50-day moving average price of $99.61 and a 200-day moving average price of $125.12.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.26 billion. During the same period in the previous year, the business posted $1.90 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts forecast that Advance Auto Parts Inc will post $5.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, September 21st. Advance Auto Parts’s payout ratio is 4.80%.
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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