Bailard Inc. Acquires Shares of 10,788 Advance Auto Parts, Inc. $AAP

Bailard Inc. bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,788 shares of the company’s stock, valued at approximately $662,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. REAP Financial Group LLC acquired a new stake in shares of Advance Auto Parts during the second quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in shares of Advance Auto Parts during the 3rd quarter worth about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Advance Auto Parts by 290.3% in the 2nd quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock valued at $43,000 after acquiring an additional 688 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Advance Auto Parts by 355.8% in the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock valued at $44,000 after acquiring an additional 733 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Advance Auto Parts by 198.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $46,000 after acquiring an additional 499 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $46.74 on Friday. The firm has a market cap of $2.81 billion, a PE ratio of -7.43 and a beta of 1.14. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The company’s fifty day simple moving average is $45.38 and its 200-day simple moving average is $53.22. The company has a quick ratio of 0.88, a current ratio of 1.73 and a debt-to-equity ratio of 1.55.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.74 by $0.18. Advance Auto Parts had a negative net margin of 4.37% and a positive return on equity of 0.64%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the firm posted ($0.04) EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, January 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, January 9th. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.90%.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the transaction, the executive vice president owned 23,165 shares of the company’s stock, valued at $1,181,415. The trade was a 24.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

AAP has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Friday, October 31st. Roth Mkm reaffirmed a “neutral” rating and set a $55.00 price objective (up previously from $50.00) on shares of Advance Auto Parts in a research note on Monday, October 27th. UBS Group set a $40.00 target price on Advance Auto Parts in a report on Thursday, October 30th. TD Cowen dropped their price target on Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Citigroup upgraded Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.08.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.