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

Bailard Inc. acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,788 shares of the company’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAP. Royal Bank of Canada raised its stake in Advance Auto Parts by 107.2% in the first quarter. Royal Bank of Canada now owns 79,558 shares of the company’s stock valued at $3,119,000 after buying an additional 41,157 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Advance Auto Parts by 327.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock valued at $14,230,000 after purchasing an additional 278,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Advance Auto Parts by 14.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company’s stock worth $7,096,000 after purchasing an additional 23,018 shares during the period. Voya Investment Management LLC raised its position in shares of Advance Auto Parts by 21.1% in the first quarter. Voya Investment Management LLC now owns 12,213 shares of the company’s stock valued at $479,000 after purchasing an additional 2,129 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Advance Auto Parts by 355.8% during the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock worth $44,000 after buying an additional 733 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

AAP has been the topic of a number of research reports. Evercore ISI decreased their price target on shares of Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday. Citigroup raised Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Wednesday. Northcoast Research raised Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday. Finally, Morgan Stanley reduced their target price on shares of Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Three investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.08.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $46.74 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.73 and a debt-to-equity ratio of 1.55. The stock 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 business’s 50-day moving average price is $45.38 and its two-hundred day moving average price is $53.22.

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

Advance Auto Parts Dividend Announcement

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

Insider Activity at Advance Auto Parts

In related news, EVP Kristen L. Soler sold 7,662 shares of the firm’s stock in a transaction 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 sale, the executive vice president owned 23,165 shares of the company’s stock, valued at $1,181,415. This trade represents a 24.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

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.