Kovack Advisors Inc. Takes $1.38 Million Position in Advance Auto Parts, Inc. (NYSE:AAP)

Kovack Advisors Inc. acquired a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,577 shares of the company’s stock, valued at approximately $1,378,000.

Several other institutional investors also recently modified their holdings of the business. Allworth Financial LP grew its stake in shares of Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after purchasing an additional 266 shares during the period. UMB Bank n.a. grew its stake in shares of Advance Auto Parts by 508.3% during the 3rd quarter. UMB Bank n.a. now owns 511 shares of the company’s stock valued at $29,000 after purchasing an additional 427 shares during the period. Larson Financial Group LLC grew its stake in shares of Advance Auto Parts by 264.6% during the 3rd quarter. Larson Financial Group LLC now owns 689 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Advance Auto Parts by 594.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 840 shares of the company’s stock valued at $47,000 after purchasing an additional 719 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Advance Auto Parts during the 4th quarter valued at about $63,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Advance Auto Parts

In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the sale, the executive vice president now owns 10,448 shares in the company, valued at approximately $899,363.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Advance Auto Parts news, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the transaction, the executive vice president now owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brent Windom acquired 4,700 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was acquired at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

Advance Auto Parts Price Performance

Shares of AAP traded up $0.43 during mid-day trading on Friday, hitting $75.14. 721,695 shares of the stock were exchanged, compared to its average volume of 1,449,323. The company has a market cap of $4.48 billion, a PE ratio of 101.54, a price-to-earnings-growth ratio of 1.36 and a beta of 1.17. Advance Auto Parts, Inc. has a 52-week low of $47.73 and a 52-week high of $127.31. The firm has a 50-day moving average of $75.72 and a two-hundred day moving average of $64.40. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the company earned $2.88 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, equities analysts predict that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.00 annualized dividend and a yield of 1.33%. Advance Auto Parts’s payout ratio is presently 135.14%.

Wall Street Analysts Forecast Growth

AAP has been the subject of a number of recent research reports. Mizuho began coverage on Advance Auto Parts in a research note on Tuesday, March 19th. They set a “neutral” rating and a $78.00 price target for the company. Barclays boosted their price objective on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. TheStreet upgraded Advance Auto Parts from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Truist Financial boosted their price objective on Advance Auto Parts from $60.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Finally, Evercore ISI cut their price objective on Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $64.56.

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.