Advance Auto Parts, Inc. (NYSE:AAP) Shares Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. raised its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,330 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Everence Capital Management Inc.’s holdings in Advance Auto Parts were worth $325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its position in Advance Auto Parts by 267.7% during the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after purchasing an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Advance Auto Parts during the first quarter worth approximately $34,000. Mather Group LLC. increased its position in Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after purchasing an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Advance Auto Parts during the second quarter worth approximately $41,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Advance Auto Parts during the first quarter worth approximately $43,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AAP shares. Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Tuesday, October 15th. TD Cowen decreased their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. Evercore ISI reduced their price objective on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating on the stock in a research note on Friday, August 23rd. Mizuho reissued a “neutral” rating and set a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Finally, Wells Fargo & Company dropped their target price on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.36.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $40.95 on Tuesday. The company has a 50-day moving average of $44.08 and a 200-day moving average of $59.09. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 59.35, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a twelve month low of $36.40 and a twelve month high of $88.56.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.22). The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business’s revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $1.43 earnings per share. Analysts forecast that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s payout ratio is presently 144.93%.

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.