Posted by admin on Jul 23rd, 2022

Kestra Advisory Services LLC cut its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 10.3% in the 1st quarter, Holdings Channel reports. The firm owned 1,807 shares of the company’s stock after selling 207 shares during the quarter. Kestra Advisory Services LLC’s holdings in Advance Auto Parts were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in AAP. Central Bank & Trust Co. bought a new position in shares of Advance Auto Parts during the first quarter valued at approximately $29,000. Life Planning Partners Inc bought a new position in Advance Auto Parts in the 4th quarter worth approximately $30,000. FNY Investment Advisers LLC bought a new position in Advance Auto Parts in the 1st quarter worth approximately $41,000. GPS Wealth Strategies Group LLC bought a new position in Advance Auto Parts in the 1st quarter worth approximately $46,000. Finally, Farmers & Merchants Investments Inc. grew its holdings in Advance Auto Parts by 500.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 228 shares of the company’s stock worth $47,000 after buying an additional 190 shares in the last quarter. 98.99% of the stock is owned by institutional investors.

A number of brokerages recently issued reports on AAP. Citigroup decreased their price objective on Advance Auto Parts from $294.00 to $250.00 in a report on Friday, May 13th. Morgan Stanley decreased their price objective on Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Tuesday, May 24th. UBS Group decreased their price objective on Advance Auto Parts to $250.00 in a report on Wednesday, May 25th. Truist Financial decreased their price objective on Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Finally, Guggenheim cut their target price on Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.17.

Shares of NYSE:AAP opened at $191.23 on Friday. Advance Auto Parts, Inc. has a one year low of $164.00 and a one year high of $244.55. The stock has a fifty day moving average of $184.12 and a 200-day moving average of $205.91. The company has a market capitalization of $11.60 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.25 and a current ratio of 1.20.

Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Monday, May 23rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.53 by $0.04. Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the firm earned $3.34 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Advance Auto Parts, Inc. will post 13.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 17th were issued a $1.50 dividend. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.14%. Advance Auto Parts’s payout ratio is currently 66.82%.

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.

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