Aristeia Capital L.L.C. Takes Position in Advance Auto Parts, Inc. (NYSE:AAP)

Aristeia Capital L.L.C. bought a new position in Advance Auto Parts, Inc. (NYSE:AAP) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 6,762 shares of the company’s stock, valued at approximately $428,000.

A number of other institutional investors have also recently bought and sold shares of AAP. Principal Securities Inc. acquired a new position in shares of Advance Auto Parts in the 4th quarter valued at $27,000. Janney Montgomery Scott LLC raised its position in shares of Advance Auto Parts by 50.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,624 shares of the company’s stock worth $1,503,000 after buying an additional 8,213 shares during the period. Norges Bank acquired a new position in Advance Auto Parts in the fourth quarter valued at $37,522,000. US Bancorp DE grew its position in Advance Auto Parts by 437.6% during the fourth quarter. US Bancorp DE now owns 11,570 shares of the company’s stock valued at $706,000 after acquiring an additional 9,418 shares during the period. Finally, Commerce Bank acquired a new stake in Advance Auto Parts during the fourth quarter worth about $228,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AAP shares. TD Cowen reduced their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Wells Fargo & Company reduced their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Wedbush reiterated a “neutral” rating and set a $55.00 price objective (down from $65.00) on shares of Advance Auto Parts in a research note on Friday, August 23rd. Mizuho reissued a “neutral” rating and issued a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Finally, Truist Financial decreased their price target on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus target price of $56.54.

Advance Auto Parts Stock Up 0.8 %

Shares of Advance Auto Parts stock opened at $40.91 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. Advance Auto Parts, Inc. has a 1-year low of $37.51 and a 1-year high of $88.56. The business has a 50-day moving average of $52.25 and a 200-day moving average of $64.98. The company has a market capitalization of $2.44 billion, a PE ratio of 59.29, a P/E/G ratio of 1.26 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Advance Auto Parts’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts forecast that Advance Auto Parts, Inc. will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.00 annualized dividend and a yield of 2.44%. Advance Auto Parts’s dividend payout ratio is presently 144.93%.

Advance Auto Parts Company Profile

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.