Advance Auto Parts, Inc. $AAP Stock Bought by Pzena Investment Management LLC

Pzena Investment Management LLC increased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 13.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,986,453 shares of the company’s stock after purchasing an additional 596,952 shares during the quarter. Pzena Investment Management LLC owned 0.08% of Advance Auto Parts worth $194,023,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAP. Legal & General Group Plc acquired a new position in Advance Auto Parts during the 2nd quarter worth approximately $9,699,000. BlackRock Inc. bought a new position in Advance Auto Parts in the second quarter worth approximately $581,909,000. Fund 1 Investments LLC acquired a new stake in Advance Auto Parts in the second quarter valued at approximately $12,999,000. Solas Capital Management LLC acquired a new stake in Advance Auto Parts in the second quarter valued at approximately $10,525,000. Finally, PEAK6 LLC acquired a new stake in Advance Auto Parts in the second quarter valued at approximately $1,817,000. 88.70% of the stock is owned by institutional investors.

Advance Auto Parts Trading Up 6.5%

Shares of Advance Auto Parts stock opened at $50.66 on Thursday. The company has a market capitalization of $3.06 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.92 and a beta of 1.02. The stock has a fifty day simple moving average of $43.18 and a 200 day simple moving average of $51.68. Advance Auto Parts, Inc. has a 12-month low of $37.89 and a 12-month high of $65.20. The company has a current ratio of 1.75, a quick ratio of 0.85 and a debt-to-equity ratio of 1.50.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, August 20th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.22. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Advance Auto Parts had a return on equity of 9.84% and a net margin of 0.97%. The business’s revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. On average, sell-side analysts anticipate that Advance Auto Parts, Inc. will post 2.92 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 9th were issued a $0.25 dividend. The ex-dividend date was Friday, October 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Advance Auto Parts’s dividend payout ratio is currently 72.99%.

Analysts Set New Price Targets

AAP has been the subject of several recent research reports. Weiss Ratings upgraded Advance Auto Parts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, October 27th. TD Cowen cut their target price on Advance Auto Parts from $61.00 to $45.00 and set a “hold” rating on the stock in a report on Thursday, August 20th. DA Davidson reduced their price target on shares of Advance Auto Parts from $58.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, August 21st. Morgan Stanley reduced their price target on shares of Advance Auto Parts from $65.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. Finally, Truist Financial set a $43.00 price target on shares of Advance Auto Parts and gave the company a “hold” rating in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Reduce” and a consensus target price of $47.61.

Advance Auto Parts Profile

Advance Auto Parts, Inc is a specialty retailer and distributor of automotive aftermarket parts, accessories, and maintenance products. The company serves both do-it-yourself customers and professional repair shops, offering products such as replacement parts, batteries, engine and drivetrain components, filters, fluids, tools, and other automotive supplies.

The company operates through a network of stores, distribution centers, and online channels under the Advance Auto Parts and Carquest brands.