Hennessy Advisors Inc. decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,200 shares of the company’s stock after selling 700 shares during the period. Hennessy Advisors Inc.’s holdings in Advance Auto Parts were worth $2,552,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in AAP. Great West Life Assurance Co. Can boosted its position in Advance Auto Parts by 2,875.5% during the third quarter. Great West Life Assurance Co. Can now owns 1,555,590 shares of the company’s stock worth $11,528,000 after purchasing an additional 1,503,310 shares during the period. Scopus Asset Management L.P. boosted its position in Advance Auto Parts by 193.3% during the third quarter. Scopus Asset Management L.P. now owns 550,000 shares of the company’s stock worth $84,425,000 after purchasing an additional 362,500 shares during the period. Assenagon Asset Management S.A. bought a new stake in Advance Auto Parts during the third quarter worth approximately $46,706,000. Morgan Stanley boosted its position in Advance Auto Parts by 67.3% during the third quarter. Morgan Stanley now owns 583,768 shares of the company’s stock worth $89,609,000 after purchasing an additional 234,831 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in Advance Auto Parts by 112.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 403,539 shares of the company’s stock worth $63,561,000 after purchasing an additional 213,594 shares during the period. Hedge funds and other institutional investors own 93.86% of the company’s stock.
Shares of NYSE:AAP opened at $157.63 on Wednesday. Advance Auto Parts, Inc. has a twelve month low of $71.33 and a twelve month high of $177.92. The firm has a market cap of $10.70 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 1.38. The business has a fifty day moving average of $162.27 and a 200-day moving average of $154.51.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Sunday, November 15th. The company reported $2.81 EPS for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.15. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.48 billion. Advance Auto Parts had a return on equity of 15.75% and a net margin of 4.84%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the company earned $2.10 earnings per share. On average, analysts anticipate that Advance Auto Parts, Inc. will post 8.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 4th. Investors of record on Friday, December 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.63%. Advance Auto Parts’s payout ratio is 12.21%.
AAP has been the subject of several research reports. JPMorgan Chase & Co. raised Advance Auto Parts from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $183.00 to $190.00 in a research report on Tuesday, October 6th. BNP Paribas initiated coverage on Advance Auto Parts in a research report on Monday, October 5th. They issued an “underperform” rating and a $117.00 price objective for the company. The Goldman Sachs Group reduced their price objective on Advance Auto Parts from $160.00 to $142.00 and set a “sell” rating for the company in a research report on Thursday, December 10th. Zacks Investment Research cut Advance Auto Parts from a “strong-buy” rating to a “hold” rating and set a $161.00 target price for the company. in a research report on Wednesday, October 21st. Finally, Morgan Stanley raised their target price on Advance Auto Parts from $148.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 11th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $152.30.
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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