Algert Global LLC Invests $380,000 in Advance Auto Parts, Inc. (NYSE:AAP)

Algert Global LLC purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,001 shares of the company’s stock, valued at approximately $380,000.

A number of other institutional investors have also recently bought and sold shares of AAP. Hexagon Capital Partners LLC raised its stake in Advance Auto Parts by 267.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after acquiring an additional 257 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Advance Auto Parts in the 1st quarter valued at about $34,000. Mather Group LLC. lifted its position in Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after acquiring an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Advance Auto Parts during the second quarter worth approximately $41,000. Finally, Quarry LP grew its position in shares of Advance Auto Parts by 285.7% in 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. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Stock Up 1.0 %

AAP stock opened at $39.09 on Tuesday. The firm has a 50-day moving average price of $48.38 and a 200-day moving average price of $62.28. Advance Auto Parts, Inc. has a 12 month low of $36.40 and a 12 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. The stock has a market capitalization of $2.33 billion, a P/E ratio of 56.65, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16.

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

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.00 annualized dividend and a yield of 2.56%. Advance Auto Parts’s dividend payout ratio is presently 144.93%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Wedbush reaffirmed a “neutral” rating and set a $55.00 price target (down from $65.00) on shares of Advance Auto Parts in a research report on Friday, August 23rd. Evercore ISI dropped their price objective on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. lowered their target price 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. Finally, Truist Financial cut their price target on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and an average price target of $56.54.

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.