nVerses Capital LLC Invests $164,000 in Advance Auto Parts, Inc. (NYSE:AAP)

nVerses Capital LLC purchased a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,200 shares of the company’s stock, valued at approximately $164,000.

Several other institutional investors have also added to or reduced their stakes in AAP. Hexagon Capital Partners LLC lifted its stake in shares of Advance Auto Parts by 267.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after acquiring an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Advance Auto Parts during the first quarter worth $34,000. Mather Group LLC. boosted its stake in shares of Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after purchasing an additional 596 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Advance Auto Parts in the second quarter worth about $41,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Advance Auto Parts during the 1st quarter valued at about $43,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Up 1.1 %

NYSE:AAP opened at $39.82 on Friday. The company’s 50 day moving average is $44.42 and its two-hundred day moving average is $59.54. The company has a market cap of $2.37 billion, a PE ratio of 57.71, a P/E/G ratio of 1.25 and a beta of 1.16. Advance Auto Parts, Inc. has a twelve month low of $36.40 and a twelve month high of $88.56. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $1.43 EPS. Analysts anticipate that Advance Auto Parts, Inc. will post 2.19 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm 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 is Friday, October 11th. This represents a $1.00 annualized dividend and a yield of 2.51%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 144.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AAP. Truist Financial reduced their target price on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. TD Cowen cut their price target 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. Evercore ISI lowered their price target on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a research report on Friday, August 23rd. Finally, Wedbush raised shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $55.36.

About Advance Auto Parts

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.