Cetera Investment Advisers Makes New Investment in Advance Auto Parts, Inc. $AAP

Cetera Investment Advisers bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,538 shares of the company’s stock, valued at approximately $335,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Central Pacific Bank Trust Division grew its holdings in Advance Auto Parts by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company’s stock worth $129,000 after purchasing an additional 300 shares during the period. Sovran Advisors LLC grew its holdings in Advance Auto Parts by 4.3% in the first quarter. Sovran Advisors LLC now owns 7,822 shares of the company’s stock worth $307,000 after purchasing an additional 322 shares during the period. Studio Investment Management LLC grew its holdings in Advance Auto Parts by 6.7% in the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company’s stock worth $263,000 after purchasing an additional 350 shares during the period. Investors Research Corp grew its holdings in Advance Auto Parts by 7.1% in the first quarter. Investors Research Corp now owns 5,625 shares of the company’s stock worth $221,000 after purchasing an additional 375 shares during the period. Finally, Hexagon Capital Partners LLC grew its holdings in Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock worth $28,000 after purchasing an additional 465 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.

Insider Activity at Advance Auto Parts

In related news, SVP Jason Hand sold 948 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $48.52, for a total transaction of $45,996.96. Following the sale, the senior vice president directly owned 9,876 shares in the company, valued at approximately $479,183.52. This represents a 8.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AAP. Wall Street Zen upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial lifted their price objective on shares of Advance Auto Parts from $51.00 to $53.00 and gave the company a “hold” rating in a report on Friday, August 15th. Wells Fargo & Company lifted their price objective on shares of Advance Auto Parts from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, August 15th. Redburn Partners upgraded shares of Advance Auto Parts from a “sell” rating to a “neutral” rating and set a $45.00 price objective for the company in a report on Tuesday, June 3rd. Finally, Roth Capital set a $50.00 price target on shares of Advance Auto Parts and gave the company a “neutral” rating in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Reduce” and a consensus price target of $51.01.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $56.2890 on Wednesday. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -8.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00. The firm’s 50-day simple moving average is $55.30 and its two-hundred day simple moving average is $44.76.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, equities analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 annualized dividend and a yield of 1.8%. Advance Auto Parts’s payout ratio is currently -15.70%.

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.