Quadrature Capital Ltd purchased a new position in Advance Auto Parts, Inc. (NYSE:AAP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,136 shares of the company’s stock, valued at approximately $1,444,000.
A number of other institutional investors and hedge funds also recently modified their holdings of AAP. Handelsbanken Fonder AB purchased a new position in shares of Advance Auto Parts during the second quarter valued at $2,130,000. FMR LLC increased its stake in shares of Advance Auto Parts by 182.8% during the second quarter. FMR LLC now owns 48,702 shares of the company’s stock valued at $6,938,000 after buying an additional 31,481 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Advance Auto Parts by 0.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 483,222 shares of the company’s stock valued at $68,835,000 after buying an additional 2,465 shares during the period. tru Independence LLC purchased a new position in shares of Advance Auto Parts during the second quarter valued at $161,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of Advance Auto Parts during the second quarter valued at $2,137,000. Institutional investors own 98.24% of the company’s stock.
Shares of Advance Auto Parts stock traded down $1.43 on Friday, reaching $153.75. 589,124 shares of the stock were exchanged, compared to its average volume of 944,152. The business has a 50 day moving average price of $152.68 and a two-hundred day moving average price of $131.89. Advance Auto Parts, Inc. has a twelve month low of $71.33 and a twelve month high of $171.43. The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.79 and a beta of 1.35. The company has a quick ratio of 0.46, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 18th. The company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.95. Advance Auto Parts had a return on equity of 14.78% and a net margin of 4.71%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the business posted $2.00 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Research analysts forecast that Advance Auto Parts, Inc. will post 7.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.65%. Advance Auto Parts’s dividend payout ratio is currently 12.21%.
Several equities analysts have issued reports on the company. Nomura Instinet lifted their target price on Advance Auto Parts from $107.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Guggenheim lifted their target price on Advance Auto Parts from $158.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Raymond James reiterated a “hold” rating on shares of Advance Auto Parts in a research note on Wednesday, August 19th. Wedbush reiterated an “outperform” rating and issued a $180.00 target price (up previously from $160.00) on shares of Advance Auto Parts in a research note on Wednesday, August 19th. Finally, DA Davidson initiated coverage on Advance Auto Parts in a research note on Friday, August 14th. They issued a “neutral” rating and a $154.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Advance Auto Parts has a consensus rating of “Hold” and an average target price of $152.29.
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.
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