Advance Auto Parts, Inc. (AAP) Position Boosted by Raymond James & Associates

Raymond James & Associates increased its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 31.4% in the first quarter, HoldingsChannel.com reports. The firm owned 88,349 shares of the company’s stock after purchasing an additional 21,097 shares during the quarter. Raymond James & Associates’ holdings in Advance Auto Parts were worth $15,066,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. purchased a new position in shares of Advance Auto Parts during the 1st quarter worth about $43,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Advance Auto Parts by 38.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 329 shares of the company’s stock worth $52,000 after purchasing an additional 91 shares during the period. Enlightenment Research LLC bought a new stake in Advance Auto Parts during the 4th quarter valued at about $79,000. Quadrant Capital Group LLC lifted its holdings in Advance Auto Parts by 97.0% during the 1st quarter. Quadrant Capital Group LLC now owns 587 shares of the company’s stock valued at $97,000 after buying an additional 289 shares in the last quarter. Finally, Dupont Capital Management Corp lifted its holdings in Advance Auto Parts by 14.9% during the 4th quarter. Dupont Capital Management Corp now owns 1,043 shares of the company’s stock valued at $164,000 after buying an additional 135 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

NYSE:AAP opened at $159.80 on Friday. Advance Auto Parts, Inc. has a one year low of $120.96 and a one year high of $186.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.44. The stock has a market capitalization of $11.57 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.36 by $0.10. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the business posted $2.10 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts forecast that Advance Auto Parts, Inc. will post 8.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 21st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $0.24 annualized dividend and a dividend yield of 0.15%. Advance Auto Parts’s dividend payout ratio is currently 3.37%.

A number of equities research analysts recently weighed in on AAP shares. Jefferies Financial Group decreased their price objective on shares of Advance Auto Parts to $195.00 and set a “buy” rating for the company in a report on Wednesday, February 20th. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a report on Monday, February 11th. Credit Suisse Group reiterated a “buy” rating and set a $195.00 price objective on shares of Advance Auto Parts in a report on Tuesday, February 19th. Wells Fargo & Co reiterated a “hold” rating and set a $175.00 price objective on shares of Advance Auto Parts in a report on Wednesday. Finally, Citigroup decreased their price objective on shares of Advance Auto Parts from $188.00 to $182.00 and set a “neutral” rating for the company in a report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $190.71.

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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.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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