Janney Montgomery Scott LLC Purchases 14,702 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Posted by Defense World Staff on Apr 21st, 2023

Janney Montgomery Scott LLC lifted its stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 48.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,869 shares of the company’s stock after acquiring an additional 14,702 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of Advance Auto Parts worth $6,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd grew its stake in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after acquiring an additional 83 shares during the period. First Personal Financial Services boosted its holdings in shares of Advance Auto Parts by 113.3% in the third quarter. First Personal Financial Services now owns 224 shares of the company’s stock worth $35,000 after buying an additional 119 shares during the last quarter. Private Trust Co. NA purchased a new position in shares of Advance Auto Parts in the second quarter worth approximately $36,000. General Partner Inc. purchased a new position in shares of Advance Auto Parts in the fourth quarter worth approximately $44,000. Finally, Central Bank & Trust Co. boosted its holdings in shares of Advance Auto Parts by 43.0% in the third quarter. Central Bank & Trust Co. now owns 319 shares of the company’s stock worth $50,000 after buying an additional 96 shares during the last quarter. 96.04% of the stock is currently owned by institutional investors.

Advance Auto Parts Trading Up 0.2 %

Shares of AAP opened at $128.37 on Friday. The company’s fifty day moving average is $129.68 and its 200 day moving average is $148.25. Advance Auto Parts, Inc. has a fifty-two week low of $109.05 and a fifty-two week high of $231.43. The stock has a market capitalization of $7.61 billion, a PE ratio of 15.52, a P/E/G ratio of 1.05 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.21 and a current ratio of 1.13.

Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.47. Advance Auto Parts had a net margin of 4.50% and a return on equity of 28.53%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the business posted $2.07 earnings per share. Advance Auto Parts’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts expect that Advance Auto Parts, Inc. will post 10.63 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 4.67%. The ex-dividend date is Thursday, April 13th. Advance Auto Parts’s dividend payout ratio is presently 72.55%.

Analysts Set New Price Targets

AAP has been the topic of several analyst reports. Roth Mkm downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and lowered their price target for the company from $180.00 to $140.00 in a report on Monday, February 13th. Raymond James lowered their price target on shares of Advance Auto Parts from $180.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Wednesday. Barclays raised shares of Advance Auto Parts from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $140.00 to $129.00 in a report on Friday, March 31st. Roth Capital reaffirmed a “neutral” rating and set a $140.00 price target (down previously from $180.00) on shares of Advance Auto Parts in a report on Monday, February 13th. Finally, Wedbush raised shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating in a report on Friday, January 13th. Thirteen analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and an average price target of $164.06.

Advance Auto Parts Company Profile

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Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.

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

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