TriaGen Wealth Management LLC Takes Position in Advance Auto Parts, Inc. $AAP

TriaGen Wealth Management LLC purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,890 shares of the company’s stock, valued at approximately $506,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its stake in Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $28,000 after acquiring an additional 465 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Advance Auto Parts by 355.8% in the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock worth $44,000 after purchasing an additional 733 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Advance Auto Parts by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company’s stock valued at $91,000 after purchasing an additional 2,140 shares in the last quarter. Quarry LP lifted its position in shares of Advance Auto Parts by 688.6% during the first quarter. Quarry LP now owns 2,421 shares of the company’s stock worth $95,000 after purchasing an additional 2,114 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Advance Auto Parts by 69.8% during the first quarter. Blue Trust Inc. now owns 2,842 shares of the company’s stock worth $111,000 after purchasing an additional 1,168 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Trading Down 4.9%

Shares of NYSE AAP opened at $58.35 on Tuesday. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $70.00. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -9.16 and a beta of 1.08. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The stock’s 50 day simple moving average is $59.37 and its 200 day simple moving average is $49.30.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, August 14th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Equities research analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a $0.25 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.00 annualized dividend and a yield of 1.7%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.70%.

Analyst Ratings Changes

Several analysts recently weighed in on AAP shares. The Goldman Sachs Group lowered Advance Auto Parts from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $48.00 to $46.00 in a report on Tuesday, June 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research report on Saturday, September 27th. DA Davidson set a $65.00 price target on Advance Auto Parts in a research report on Thursday, August 14th. UBS Group set a $65.00 price objective on Advance Auto Parts and gave the stock a “neutral” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $52.03.

Advance Auto Parts 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.