194,922 Advance Auto Parts, Inc. $AAP Shares Acquired by Royce & Associates LP

Royce & Associates LP increased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 14.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,525,705 shares of the company’s stock after acquiring an additional 194,922 shares during the quarter. Advance Auto Parts makes up approximately 0.5% of Royce & Associates LP’s holdings, making the stock its 27th biggest holding. Royce & Associates LP owned 2.53% of Advance Auto Parts worth $59,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of AAP. PNC Financial Services Group Inc. boosted its stake in Advance Auto Parts by 9.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,224 shares of the company’s stock valued at $117,000 after acquiring an additional 200 shares during the period. Hsbc Holdings PLC raised its position in shares of Advance Auto Parts by 4.7% during the 2nd quarter. Hsbc Holdings PLC now owns 7,879 shares of the company’s stock worth $490,000 after purchasing an additional 355 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in shares of Advance Auto Parts by 27.4% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,701 shares of the company’s stock worth $66,000 after purchasing an additional 366 shares during the period. Allworth Financial LP acquired a new stake in shares of Advance Auto Parts during the 2nd quarter worth approximately $25,000. Finally, Bfsg LLC raised its position in shares of Advance Auto Parts by 12.8% during the 3rd quarter. Bfsg LLC now owns 4,584 shares of the company’s stock worth $178,000 after purchasing an additional 520 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Advance Auto Parts from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Weiss Ratings downgraded Advance Auto Parts from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Advance Auto Parts from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 6th. Roth Capital set a $48.00 target price on Advance Auto Parts in a research report on Friday, August 21st. Finally, TD Cowen raised their target price on Advance Auto Parts from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Monday, November 9th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Advance Auto Parts presently has a consensus rating of “Reduce” and an average target price of $47.50.

Advance Auto Parts Stock Performance

Shares of NYSE:AAP traded down $0.11 during trading hours on Friday, hitting $45.53. The stock had a trading volume of 1,234,219 shares, compared to its average volume of 1,766,657. The stock’s fifty day simple moving average is $43.61 and its 200 day simple moving average is $51.70. Advance Auto Parts, Inc. has a 1-year low of $37.89 and a 1-year high of $65.20. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 0.97 and a beta of 1.02. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 1.63.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Advance Auto Parts had a return on equity of 9.41% and a net margin of 1.16%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Sell-side analysts anticipate that Advance Auto Parts, Inc. will post 2.92 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

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

About Advance Auto Parts

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.