AMG National Trust Bank Purchases 5,219 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

AMG National Trust Bank raised its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 20.6% in the third quarter, Holdings Channel reports. The fund owned 30,526 shares of the company’s stock after buying an additional 5,219 shares during the quarter. AMG National Trust Bank’s holdings in Advance Auto Parts were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in Advance Auto Parts during the 1st quarter valued at approximately $34,000. Mather Group LLC. lifted its holdings in shares of Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after buying an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Advance Auto Parts in the second quarter valued at approximately $41,000. Blue Trust Inc. grew its stake in shares of Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after acquiring an additional 436 shares during the last quarter. Finally, AM Squared Ltd bought a new position in Advance Auto Parts during the second quarter worth $63,000. 88.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore ISI decreased their price target on shares of Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their target price on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. Mizuho reissued a “neutral” rating and set a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. cut their target price on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $49.14.

Advance Auto Parts Trading Down 4.0 %

Shares of Advance Auto Parts stock opened at $38.50 on Wednesday. Advance Auto Parts, Inc. has a 12-month low of $35.59 and a 12-month high of $88.56. The stock has a market capitalization of $2.30 billion, a P/E ratio of 52.73, a price-to-earnings-growth ratio of 1.19 and a beta of 1.17. The company has a 50-day simple moving average of $39.05 and a 200 day simple moving average of $53.60. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) EPS. Research analysts expect that Advance Auto Parts, Inc. will post 2.26 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

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.