Quantbot Technologies LP Purchases 20,293 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Quantbot Technologies LP lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 564.6% during the third quarter, Holdings Channel reports. The firm owned 23,887 shares of the company’s stock after acquiring an additional 20,293 shares during the period. Quantbot Technologies LP’s holdings in Advance Auto Parts were worth $931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC increased its stake in Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after buying an additional 1,698,155 shares during the last quarter. Dorsal Capital Management LP increased its position in shares of Advance Auto Parts by 159.7% during the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock valued at $79,162,000 after acquiring an additional 768,664 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after acquiring an additional 547,696 shares during the period. International Assets Investment Management LLC purchased a new position in Advance Auto Parts in the third quarter worth $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Advance Auto Parts in the 3rd quarter valued at $14,684,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial cut their price target on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a report on Friday, November 15th. DA Davidson reiterated a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. Mizuho restated a “neutral” rating and set a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Evercore ISI upped their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Finally, Roth Mkm reissued a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.64.

Advance Auto Parts Trading Down 7.0 %

Shares of AAP opened at $41.35 on Monday. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56. The stock has a market cap of $2.47 billion, a PE ratio of 56.64 and a beta of 1.17. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $39.21 and its 200-day moving average price is $51.73.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the company posted ($0.82) EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts forecast that Advance Auto Parts, Inc. will post -0.51 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is 136.99%.

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.