Advance Auto Parts, Inc. $AAP Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 45.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,670 shares of the company’s stock after purchasing an additional 26,880 shares during the period. Janney Montgomery Scott LLC owned 0.14% of Advance Auto Parts worth $3,983,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its holdings in Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock worth $28,000 after buying an additional 465 shares in the last quarter. Parallel Advisors LLC lifted its position in Advance Auto Parts by 355.8% in the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock worth $44,000 after buying an additional 733 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Advance Auto Parts by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company’s stock worth $91,000 after buying an additional 2,140 shares in the last quarter. Quarry LP lifted its position in Advance Auto Parts by 688.6% in the 1st quarter. Quarry LP now owns 2,421 shares of the company’s stock worth $95,000 after buying an additional 2,114 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Advance Auto Parts by 69.8% during the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company’s stock valued at $111,000 after purchasing an additional 1,168 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Advance Auto Parts Price Performance

Shares of AAP stock opened at $56.79 on Wednesday. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $70.00. The firm’s 50 day moving average is $59.37 and its 200-day moving average is $49.35. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -8.92 and a beta of 1.08. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

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

Advance Auto Parts Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Advance Auto Parts from $44.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. The Goldman Sachs Group downgraded shares of Advance Auto Parts from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $48.00 to $46.00 in a report on Tuesday, June 24th. Truist Financial lifted their target price on shares of Advance Auto Parts from $51.00 to $53.00 and gave the stock a “hold” rating in a report on Friday, August 15th. Argus reiterated a “hold” rating and issued a $60.52 target price on shares of Advance Auto Parts in a report on Friday, August 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Advance Auto Parts in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $52.03.

About Advance Auto Parts

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.