Litespeed Management L.L.C. Acquires New Holdings in Advance Auto Parts Inc (AAP)

Litespeed Management L.L.C. bought a new position in Advance Auto Parts Inc (NYSE:AAP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,658 shares of the company’s stock, valued at approximately $9,985,000. Advance Auto Parts makes up about 7.0% of Litespeed Management L.L.C.’s holdings, making the stock its 6th largest position. Litespeed Management L.L.C. owned about 0.14% of Advance Auto Parts as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Veritable L.P. lifted its stake in shares of Advance Auto Parts by 0.3% in the second quarter. Veritable L.P. now owns 2,008 shares of the company’s stock worth $234,000 after buying an additional 6 shares in the last quarter. QS Investors LLC lifted its stake in shares of Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after buying an additional 9 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Advance Auto Parts by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,486 shares of the company’s stock worth $640,000 after buying an additional 14 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Advance Auto Parts by 0.8% in the second quarter. Advisors Asset Management Inc. now owns 5,676 shares of the company’s stock worth $662,000 after buying an additional 47 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in shares of Advance Auto Parts by 0.3% in the second quarter. State of Tennessee Treasury Department now owns 20,197 shares of the company’s stock worth $2,355,000 after buying an additional 60 shares in the last quarter.

Several brokerages have recently issued reports on AAP. UBS reiterated a “buy” rating and issued a $118.00 target price (down previously from $155.00) on shares of Advance Auto Parts in a research note on Wednesday, August 16th. Citigroup dropped their target price on shares of Advance Auto Parts to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 16th. Royal Bank Of Canada dropped their target price on shares of Advance Auto Parts from $125.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 16th. Barclays reiterated an “equal weight” rating and issued a $90.00 target price (down previously from $93.00) on shares of Advance Auto Parts in a research note on Wednesday, August 16th. Finally, Gabelli reiterated a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, August 16th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $104.89.

Advance Auto Parts Inc (NYSE:AAP) opened at $100.31 on Friday. The firm has a market cap of $7,412.71, a P/E ratio of 17.88, a P/E/G ratio of 1.80 and a beta of 1.00. Advance Auto Parts Inc has a 52-week low of $78.81 and a 52-week high of $177.50. The company has a current ratio of 1.52, a quick ratio of 0.32 and a debt-to-equity ratio of 0.32.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, November 14th. The company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.18. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.21 billion. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 earnings per share. equities analysts expect that Advance Auto Parts Inc will post 5.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Advance Auto Parts’s dividend payout ratio (DPR) is 5.03%.

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About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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