Oppenheimer Asset Management Inc. Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Oppenheimer Asset Management Inc. purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,312 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of AAP. Allspring Global Investments Holdings LLC purchased a new stake in Advance Auto Parts during the 1st quarter worth approximately $34,000. UniSuper Management Pty Ltd purchased a new stake in shares of Advance Auto Parts during the first quarter worth $1,083,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Advance Auto Parts by 4.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 59,203 shares of the company’s stock valued at $5,040,000 after acquiring an additional 2,537 shares in the last quarter. Natixis purchased a new position in Advance Auto Parts in the first quarter valued at $5,397,000. Finally, Shell Asset Management Co. acquired a new position in Advance Auto Parts during the 1st quarter worth $310,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AAP has been the subject of several recent research reports. Mizuho reiterated a “neutral” rating and issued a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. JPMorgan Chase & Co. lowered their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 16th. DA Davidson restated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. UBS Group boosted their target price on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. One research 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.com, Advance Auto Parts presently has an average rating of “Hold” and a consensus price target of $48.64.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $38.63 on Thursday. The company’s fifty day moving average is $39.05 and its two-hundred day moving average is $53.49. The company has a market cap of $2.31 billion, a P/E ratio of 52.92, a price-to-earnings-growth ratio of 1.19 and a beta of 1.17. Advance Auto Parts, Inc. has a 12-month low of $35.59 and a 12-month high of $88.56. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (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 for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the company posted ($0.82) EPS. The business’s revenue was down 3.2% compared to the same quarter last year. Equities analysts expect that Advance Auto Parts, Inc. will post 2.26 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.59%. 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.