Advance Auto Parts Inc (AAP) Shares Bought by Amalgamated Bank
Amalgamated Bank boosted its stake in shares of Advance Auto Parts Inc (NYSE:AAP) by 50.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,104 shares of the company’s stock after purchasing an additional 2,703 shares during the period. Amalgamated Bank’s holdings in Advance Auto Parts were worth $945,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAP. Tobam purchased a new position in Advance Auto Parts during the second quarter valued at approximately $118,000. Huntington National Bank grew its position in Advance Auto Parts by 37.1% during the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after purchasing an additional 283 shares in the last quarter. Global X Management Co. LLC grew its position in Advance Auto Parts by 14.3% during the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after purchasing an additional 139 shares in the last quarter. IFP Advisors Inc grew its position in Advance Auto Parts by 57.5% during the second quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock valued at $141,000 after purchasing an additional 441 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Advance Auto Parts by 7.5% during the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock valued at $143,000 after purchasing an additional 67 shares in the last quarter.
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A number of brokerages recently commented on AAP. Bank of America Corporation reaffirmed an “underperform” rating and set a $87.50 price objective on shares of Advance Auto Parts in a research report on Tuesday, September 5th. Royal Bank Of Canada lowered their price objective on shares of Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 6th. Wedbush reaffirmed an “outperform” rating on shares of Advance Auto Parts in a research report on Thursday, July 6th. Credit Suisse Group set a $100.00 price objective on shares of Advance Auto Parts and gave the company a “buy” rating in a research report on Wednesday, August 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $125.00 price objective (down from $160.00) on shares of Advance Auto Parts in a research report on Thursday, July 6th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $123.08.
Shares of Advance Auto Parts Inc (NYSE AAP) opened at 99.33 on Thursday. The firm has a market capitalization of $7.30 billion, a PE ratio of 16.02 and a beta of 0.90. Advance Auto Parts Inc has a 1-year low of $82.21 and a 1-year high of $177.83. The firm has a 50-day moving average of $99.61 and a 200-day moving average of $125.12.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.07). The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. Advance Auto Parts’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 earnings per share. On average, equities research analysts anticipate that Advance Auto Parts Inc will post $5.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. Advance Auto Parts’s dividend payout ratio is currently 4.80%.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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