AM Squared Ltd Has $78,000 Position in Advance Auto Parts, Inc. (NYSE:AAP)

AM Squared Ltd boosted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 100.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. AM Squared Ltd’s holdings in Advance Auto Parts were worth $78,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AAP. Allspring Global Investments Holdings LLC acquired a new position in Advance Auto Parts during the first quarter valued at approximately $34,000. Sei Investments Co. lifted its stake in Advance Auto Parts by 0.6% in the first quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock valued at $5,055,000 after buying an additional 352 shares in the last quarter. US Bancorp DE lifted its stake in Advance Auto Parts by 10.3% in the first quarter. US Bancorp DE now owns 12,767 shares of the company’s stock valued at $1,086,000 after buying an additional 1,197 shares in the last quarter. Bleakley Financial Group LLC bought a new position in Advance Auto Parts in the first quarter valued at approximately $207,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in Advance Auto Parts by 24.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 77,031 shares of the company’s stock valued at $6,555,000 after buying an additional 15,093 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Wall Street Analyst Weigh In

AAP has been the topic of a number of research reports. The Goldman Sachs Group cut their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday. Mizuho reaffirmed a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Truist Financial cut their price target on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. Finally, UBS Group lifted their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $49.14.

Advance Auto Parts Price Performance

Shares of AAP opened at $37.69 on Friday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 51.63 and a beta of 1.17. Advance Auto Parts, Inc. has a 1-year low of $35.59 and a 1-year high of $88.56. The company’s fifty day simple moving average is $39.02 and its 200 day simple moving average is $54.24. The company has a current ratio of 1.34, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. Advance Auto Parts’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. On average, research analysts forecast that Advance Auto Parts, Inc. will post 2.26 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s payout ratio is 136.99%.

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.