Advance Auto Parts, Inc. (NYSE:AAP) Stock Position Raised by Blueshift Asset Management LLC

Blueshift Asset Management LLC boosted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 20.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,094 shares of the company’s stock after purchasing an additional 1,188 shares during the period. Blueshift Asset Management LLC’s holdings in Advance Auto Parts were worth $277,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AAP. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Advance Auto Parts during the third quarter valued at $14,684,000. Wolverine Asset Management LLC increased its holdings in shares of Advance Auto Parts by 212.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock valued at $1,223,000 after purchasing an additional 21,320 shares during the period. Quest Partners LLC purchased a new stake in shares of Advance Auto Parts in the third quarter worth approximately $579,000. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Advance Auto Parts during the second quarter worth approximately $7,916,000. Finally, Dynamic Technology Lab Private Ltd grew its position in Advance Auto Parts by 19.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 78,108 shares of the company’s stock valued at $3,045,000 after purchasing an additional 12,704 shares in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Up 1.4 %

AAP stock opened at $44.44 on Friday. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.65 billion, a PE ratio of 60.88 and a beta of 1.17. The business’s 50-day simple moving average is $39.16 and its 200 day simple moving average is $52.35.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). The firm 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 business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. On average, research analysts anticipate that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s payout ratio is 136.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Mizuho reissued a “neutral” rating and set a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. TD Cowen reduced their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Evercore ISI boosted their target price on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. UBS Group lifted their price target on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, DA Davidson restated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and an average target price of $48.64.

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.