Kestra Advisory Services LLC reduced its stake in the shares of Advance Auto Parts, Inc. (NYSE: PAA – Get a rating) by 10.3% in the 1st quarter, Participation channel reports. The company held 1,807 shares of the company after selling 207 shares during the quarter. Kestra Advisory Services LLC’s holdings in Advance Auto Parts were worth $374,000 when it last filed with the Securities and Exchange Commission.
Several other institutional investors have also recently changed their positions in AAP. Central Bank & Trust Co. bought a new position in shares of Advance Auto Parts during the first quarter worth approximately $29,000. Life Planning Partners Inc bought a new position in Advance Auto Parts in Q4 for a value of approximately $30,000. FNY Investment Advisers LLC bought a new position in Advance Auto Parts in Q1 for approximately $41,000. GPS Wealth Strategies Group LLC bought a new position in Advance Auto Parts in Q1 worth approximately $46,000. Finally, Farmers & Merchants Investments Inc. increased its stake in Advance Auto Parts by 500.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 228 shares of the company worth $47,000 after purchasing an additional 190 shares in the last quarter. 98.99% of the shares are held by institutional investors.
Wall Street analysts predict growth
A number of brokerages have recently released AAP reports. Citigroup reduced its price target on Advance Auto Parts from $294.00 to $250.00 in a Friday, May 13 report. Morgan Stanley cut its price target on Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating for the company in a Tuesday, May 24 report. UBS Group reduced its price target on Advance Auto Parts to $250.00 in a Wednesday, May 25 report. Truist Financial cut its price target on Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating for the company in a Wednesday, May 25 report. Finally, Guggenheim reduced its price target on Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating for the company in a Wednesday, May 25 research report. Five analysts gave the stock a hold rating, twelve gave the company a buy rating and one gave the company’s stock a strong buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.17.
Advanced Auto Parts Price Performance
Shares of NYSE: PAA opened at $191.23 on Friday. Advance Auto Parts, Inc. has a one year minimum of $164.00 and a one year maximum of $244.55. The stock has a fifty-day moving average of $184.12 and a 200-day moving average of $205.91. The company has a market capitalization of $11.60 billion, a PE ratio of 21.30, a growth price-earnings ratio of 1.11 and a beta of 1.21. The company has a debt ratio of 0.41, a quick ratio of 0.25 and a current ratio of 1.20.
Advance auto parts (NYSE: PAA – Get a rating) last reported quarterly earnings data on Monday, May 23. The company reported EPS of $3.57 for the quarter, beating consensus analyst estimates of $3.53 by $0.04. Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The company posted revenue of $3.40 billion in the quarter, versus a consensus estimate of $3.39 billion. In the same quarter of the previous year, the company achieved EPS of $3.34. The company’s quarterly revenue increased by 2.1% compared to the same quarter last year. As a group, equity analysts expect Advance Auto Parts, Inc. to post EPS of 13.69 for the current fiscal year.
Advance Auto Parts Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Friday, June 17 received a dividend of $1.50. The ex-dividend date was Thursday, June 16. This represents a dividend of $6.00 on an annualized basis and a dividend yield of 3.14%. Advance Auto Parts’ payout ratio is currently 66.82%.
Advanced 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 trucks. The company offers drum accessories; belts and pipes; brakes and brake pads; chassis and air conditioning 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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