Kovack Advisors Inc. Buys Shares of 22,577 Advance Auto Parts, Inc. (NYSE:AAP)

Kovack Advisors Inc. bought a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the fourth quarter, Holdings Channel reports. The firm bought 22,577 shares of the company’s stock, valued at approximately $1,378,000.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after purchasing an additional 266 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Advance Auto Parts by 508.3% in the 3rd quarter. UMB Bank n.a. now owns 511 shares of the company’s stock valued at $29,000 after purchasing an additional 427 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Advance Auto Parts by 264.6% in the 3rd quarter. Larson Financial Group LLC now owns 689 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Advance Auto Parts by 594.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 840 shares of the company’s stock valued at $47,000 after purchasing an additional 719 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in Advance Auto Parts during the 4th quarter worth $63,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Trading Up 0.6 %

NYSE AAP traded up $0.43 during trading hours on Friday, hitting $75.14. The company’s stock had a trading volume of 721,695 shares, compared to its average volume of 1,449,323. Advance Auto Parts, Inc. has a twelve month low of $47.73 and a twelve month high of $127.31. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $4.48 billion, a P/E ratio of 101.54, a PEG ratio of 1.36 and a beta of 1.17. The stock has a fifty day moving average of $75.72 and a 200 day moving average of $64.40.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.83). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the company posted $2.88 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts forecast that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, April 11th. Advance Auto Parts’s dividend payout ratio is 135.14%.

Insider Activity at Advance Auto Parts

In other news, EVP Herman L. Word, Jr. sold 1,858 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the sale, the executive vice president now owns 10,448 shares in the company, valued at approximately $899,363.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at $899,363.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brent Windom bought 4,700 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was purchased at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AAP shares. TheStreet raised shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. Barclays upped their target price on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Truist Financial upped their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. upped their target price on shares of Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Finally, Evercore ISI lowered their target price on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and an average target price of $64.56.

Advance Auto Parts Company 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.