Private Advisor Group LLC Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Private Advisor Group LLC bought a new position in Advance Auto Parts, Inc. (NYSE:AAP – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,777 shares of the company’s stock, valued at approximately $1,172,000.

Several other large investors have also bought and sold shares of AAP. Allworth Financial LP raised its holdings in Advance Auto Parts by 190.0% in the fourth quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after buying an additional 266 shares during the last quarter. Principal Securities Inc. purchased a new position in Advance Auto Parts in the fourth quarter worth about $27,000. Hexagon Capital Partners LLC raised its holdings in Advance Auto Parts by 267.7% in the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after buying an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Advance Auto Parts during the first quarter valued at approximately $34,000. Finally, Quarry LP raised its holdings in shares of Advance Auto Parts by 285.7% during the fourth quarter. Quarry LP now owns 702 shares of the company’s stock valued at $43,000 after purchasing an additional 520 shares during the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AAP shares. Wedbush reissued a “neutral” rating and set a $70.00 price objective on shares of Advance Auto Parts in a report on Friday, May 24th. Mizuho decreased their price objective on shares of Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating for the company in a report on Monday, June 10th. Evercore ISI decreased their price objective on shares of Advance Auto Parts from $73.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Bank of America boosted their price objective on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. Finally, Royal Bank of Canada cut their target price on shares of Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating for the company in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.79.

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Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $61.73 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.29 and a current ratio of 1.22. The firm has a fifty day moving average price of $66.84 and a 200 day moving average price of $69.24. Advance Auto Parts, Inc. has a fifty-two week low of $47.73 and a fifty-two week high of $88.56. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 89.47, a P/E/G ratio of 1.14 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP – Get Free Report) last issued its earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. Advance Auto Parts’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. As a group, sell-side analysts expect that Advance Auto Parts, Inc. will post 3.72 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, July 12th. Advance Auto Parts’s payout ratio is 144.93%.

Advance Auto Parts Profile

(Free Report)

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.