Advance Auto Parts, Inc. $AAP Stock: Commonwealth Equity Services LLC Grows Position

Commonwealth Equity Services LLC raised its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 36.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 426,060 shares of the company’s stock after purchasing an additional 114,945 shares during the period. Commonwealth Equity Services LLC’s holdings in Advance Auto Parts were worth $16,578,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Advance Auto Parts in the 2nd quarter worth about $581,909,000. Pzena Investment Management LLC bought a new position in shares of Advance Auto Parts during the second quarter worth about $273,115,000. Maple Rock Capital Partners Inc. grew its position in shares of Advance Auto Parts by 86.5% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,421,040 shares of the company’s stock worth $150,637,000 after acquiring an additional 1,122,900 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Advance Auto Parts by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,127,948 shares of the company’s stock worth $112,243,000 after purchasing an additional 282,591 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Advance Auto Parts during the second quarter worth $59,626,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Advance Auto Parts from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, November 6th. Citigroup increased their price target on Advance Auto Parts from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. TD Cowen increased their target price on shares of Advance Auto Parts from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Monday. Wells Fargo & Company reduced their price target on shares of Advance Auto Parts from $60.00 to $50.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. Finally, The Goldman Sachs Group set a $49.00 price target on Advance Auto Parts in a research note on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus target price of $47.50.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $45.77 on Wednesday. Advance Auto Parts, Inc. has a fifty-two week low of $37.89 and a fifty-two week high of $65.20. The firm’s 50 day simple moving average is $43.44 and its 200-day simple moving average is $51.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.63 and a quick ratio of 0.80. The company has a market cap of $2.76 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.02.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Advance Auto Parts had a net margin of 1.16% and a return on equity of 9.41%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the business posted $0.92 EPS. The company’s revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts predict that Advance Auto Parts, Inc. will post 2.93 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 22nd. Investors of record on Friday, January 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Advance Auto Parts’s payout ratio is presently 60.98%.

Advance Auto Parts Profile

Advance Auto Parts, Inc. is a retailer of automotive aftermarket parts, accessories and maintenance products. Its offerings include replacement parts, batteries, tools, fluids and other supplies for a range of vehicles. The company serves both do-it-yourself customers and professional automotive repair shops through its stores, online channels and network of independent locations. Its retail banners include Advance Auto Parts and Carquest. Advance Auto Parts traces its roots to 1932, when the business began in Roanoke, Virginia.