Janney Montgomery Scott LLC Sells 16,407 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Janney Montgomery Scott LLC lessened its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 43.7% during the third quarter, HoldingsChannel.com reports. The fund owned 21,129 shares of the company’s stock after selling 16,407 shares during the period. Janney Montgomery Scott LLC’s holdings in Advance Auto Parts were worth $824,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BW Gestao de Investimentos Ltda. bought a new stake in Advance Auto Parts during the 2nd quarter worth approximately $7,916,000. Renaissance Technologies LLC increased its holdings in shares of Advance Auto Parts by 26.9% in the 2nd quarter. Renaissance Technologies LLC now owns 185,450 shares of the company’s stock worth $11,745,000 after buying an additional 39,300 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Advance Auto Parts in the 3rd quarter worth $17,477,000. AQR Capital Management LLC increased its holdings in shares of Advance Auto Parts by 31.0% in the 2nd quarter. AQR Capital Management LLC now owns 233,521 shares of the company’s stock worth $14,740,000 after buying an additional 55,226 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of Advance Auto Parts in the 3rd quarter worth $3,304,000. Institutional investors own 88.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. TD Cowen decreased their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. DA Davidson reissued a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a report on Friday. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $49.14.

Advance Auto Parts Trading Down 8.5 %

Shares of AAP opened at $37.69 on Monday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 51.63 and a beta of 1.17. The company has a quick ratio of 0.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $39.02 and a two-hundred day simple moving average of $54.11. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the business posted ($0.82) earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts anticipate that Advance Auto Parts, Inc. will post 2.26 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. Advance Auto Parts’s payout ratio is 136.99%.

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.