Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. trimmed its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 10.4% in the third quarter, Holdings Channel reports. The firm owned 8,216 shares of the company’s stock after selling 949 shares during the period. Raymond James Trust N.A.’s holdings in Advance Auto Parts were worth $320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAP. Mather Group LLC. lifted its stake in Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after purchasing an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Advance Auto Parts in the 2nd quarter valued at $41,000. Blue Trust Inc. lifted its stake in Advance Auto Parts by 98.7% during the 2nd quarter. Blue Trust Inc. now owns 769 shares of the company’s stock worth $49,000 after acquiring an additional 382 shares in the last quarter. AM Squared Ltd purchased a new position in Advance Auto Parts during the 2nd quarter valued at about $63,000. Finally, GAMMA Investing LLC grew its position in Advance Auto Parts by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,658 shares of the company’s stock valued at $105,000 after acquiring an additional 627 shares in the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAP. The Goldman Sachs Group cut their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. Truist Financial lowered their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Mizuho reaffirmed a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. Finally, Evercore ISI boosted their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.64.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $44.44 on Thursday. Advance Auto Parts, Inc. has a 12 month low of $35.59 and a 12 month high of $88.56. The firm has a market capitalization of $2.65 billion, a P/E ratio of 60.06 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The company’s fifty day moving average price is $39.11 and its 200 day moving average price is $52.41.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, November 14th. The company reported ($0.04) 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 analyst estimates of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.82) EPS. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company 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 $0.25 dividend. This represents a $1.00 annualized dividend 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 currently 136.99%.

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.