Advance Auto Parts, Inc. (NYSE:AAP) Shares Purchased by AMG National Trust Bank

AMG National Trust Bank raised its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 20.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,526 shares of the company’s stock after acquiring an additional 5,219 shares during the quarter. AMG National Trust Bank owned 0.05% of Advance Auto Parts worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AAP. Allspring Global Investments Holdings LLC acquired a new stake in Advance Auto Parts during the first quarter valued at approximately $34,000. Mather Group LLC. lifted its position in shares of Advance Auto Parts by 1,241.7% during the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after acquiring an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Advance Auto Parts during the 2nd quarter worth $41,000. Blue Trust Inc. grew its holdings in shares of Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after acquiring an additional 436 shares during the last quarter. Finally, AM Squared Ltd acquired a new stake in shares of Advance Auto Parts during the second quarter worth $63,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Shares of AAP opened at $38.50 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The firm has a market cap of $2.30 billion, a PE ratio of 52.73, a PEG ratio of 1.19 and a beta of 1.17. The firm’s 50 day moving average price is $39.05 and its 200 day moving average price is $53.60. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.82) EPS. As a group, research analysts expect that Advance Auto Parts, Inc. will post 2.26 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.60%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AAP shares. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Mizuho restated a “neutral” rating and set a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Wells Fargo & Company decreased their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. TD Cowen reduced their target price on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 23rd. Finally, Royal Bank of Canada lowered their price target on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.14.

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.