Intech Investment Management LLC Buys Shares of 39,187 Advance Auto Parts, Inc. $AAP

Intech Investment Management LLC bought a new position in Advance Auto Parts, Inc. (NYSE:AAP) in the 2nd quarter, Holdings Channel.com reports. The fund bought 39,187 shares of the company’s stock, valued at approximately $1,822,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Y Intercept Hong Kong Ltd bought a new stake in Advance Auto Parts in the first quarter worth $718,000. Cetera Investment Advisers acquired a new stake in shares of Advance Auto Parts in the first quarter worth about $335,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Advance Auto Parts by 9.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,774 shares of the company’s stock worth $618,000 after acquiring an additional 1,298 shares in the last quarter. TCW Group Inc. bought a new stake in shares of Advance Auto Parts during the 1st quarter worth about $764,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Advance Auto Parts during the 1st quarter valued at about $1,135,000. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AAP shares. Weiss Ratings restated a “sell (d)” rating on shares of Advance Auto Parts in a report on Wednesday, October 8th. Argus restated a “hold” rating and issued a $60.52 price objective on shares of Advance Auto Parts in a research note on Friday, August 29th. Wolfe Research began coverage on shares of Advance Auto Parts in a report on Thursday, September 18th. They set a “peer perform” rating for the company. Cfra Research upgraded shares of Advance Auto Parts to a “hold” rating in a report on Thursday, October 30th. Finally, Truist Financial boosted their target price on shares of Advance Auto Parts from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $51.78.

Advance Auto Parts Trading Up 6.9%

Shares of AAP stock opened at $51.70 on Friday. The firm has a market capitalization of $3.10 billion, a P/E ratio of -8.12 and a beta of 1.06. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $70.00. The firm’s fifty day simple moving average is $54.77 and its 200 day simple moving average is $53.34. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.18. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the firm earned ($0.04) EPS. The business’s revenue was down 5.2% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Advance Auto Parts’s dividend payout ratio (DPR) is -15.90%.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total value of $390,762.00. Following the completion of the transaction, the executive vice president owned 23,165 shares of the company’s stock, valued at $1,181,415. This represents a 24.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

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.