Gainplan LLC Purchases New Holdings in Advance Auto Parts, Inc. $AAP

Gainplan LLC purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the second quarter, HoldingsChannel reports. The firm purchased 15,049 shares of the company’s stock, valued at approximately $700,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AAP. Pzena Investment Management LLC increased its holdings in shares of Advance Auto Parts by 31.8% in the first quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company’s stock valued at $169,093,000 after purchasing an additional 1,041,611 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Advance Auto Parts by 302.5% in the first quarter. Federated Hermes Inc. now owns 1,358,764 shares of the company’s stock valued at $53,277,000 after purchasing an additional 1,021,181 shares in the last quarter. Invenomic Capital Management LP increased its holdings in shares of Advance Auto Parts by 281.2% in the first quarter. Invenomic Capital Management LP now owns 600,895 shares of the company’s stock valued at $23,561,000 after purchasing an additional 443,251 shares in the last quarter. Jump Financial LLC acquired a new stake in Advance Auto Parts during the 1st quarter worth $15,882,000. Finally, Estuary Capital Management LP grew its holdings in Advance Auto Parts by 31.7% during the 1st quarter. Estuary Capital Management LP now owns 1,258,270 shares of the company’s stock worth $49,337,000 after acquiring an additional 303,153 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAP. Evercore ISI boosted their price target on shares of Advance Auto Parts from $56.00 to $58.00 and gave the company an “in-line” rating in a report on Tuesday, August 12th. Wall Street Zen raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Mizuho upped their target price on shares of Advance Auto Parts from $44.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. DA Davidson set a $65.00 target price on shares of Advance Auto Parts in a research note on Thursday, August 14th. Finally, Citigroup set a $60.00 target price on shares of Advance Auto Parts in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $52.03.

Advance Auto Parts Stock Down 2.6%

Shares of AAP stock opened at $56.79 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The firm’s 50-day moving average is $59.37 and its 200-day moving average is $49.35. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -8.92 and a beta of 1.08. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00.

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

Advance Auto Parts Dividend Announcement

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