Maple Rock Capital Partners Inc. grew its stake in Advance Auto Parts, Inc. (NYSE:AAP – Free Report) by 86.5% during the second quarter, Holdings Channel.com reports. The fund owned 2,421,040 shares of the company’s stock after acquiring an additional 1,122,900 shares during the period. Advance Auto Parts accounts for about 3.0% of Maple Rock Capital Partners Inc.’s investment portfolio, making the stock its 8th biggest position. Maple Rock Capital Partners Inc.’s holdings in Advance Auto Parts were worth $150,637,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in AAP. Royal Bank of Canada increased its holdings in Advance Auto Parts by 107.2% in the 1st quarter. Royal Bank of Canada now owns 79,558 shares of the company’s stock valued at $3,119,000 after purchasing an additional 41,157 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Advance Auto Parts by 327.7% during the first quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock worth $14,230,000 after purchasing an additional 278,066 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 buying an additional 23,018 shares during the period. Hsbc Holdings PLC boosted its position in shares of Advance Auto Parts by 3.1% during the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock worth $293,000 after buying an additional 191 shares during the period. Finally, Baird Financial Group Inc. grew its stake in shares of Advance Auto Parts by 2.7% in the second quarter. Baird Financial Group Inc. now owns 56,782 shares of the company’s stock valued at $2,640,000 after buying an additional 1,515 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently issued reports on AAP. Barclays cut their price objective on Advance Auto Parts from $59.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, August 21st. UBS Group lowered their target price on Advance Auto Parts from $65.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 21st. Wells Fargo & Company dropped their target price on Advance Auto Parts from $60.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. Roth Capital set a $48.00 price target on shares of Advance Auto Parts in a research note on Friday, August 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus price target of $50.19.
Advance Auto Parts Stock Down 1.7%
Advance Auto Parts stock opened at $42.18 on Tuesday. The firm has a market capitalization of $2.55 billion, a P/E ratio of 30.79, a P/E/G ratio of 0.69 and a beta of 1.03. The company has a current ratio of 1.75, a quick ratio of 0.85 and a debt-to-equity ratio of 1.50. Advance Auto Parts, Inc. has a twelve month low of $37.89 and a twelve month high of $65.21. The stock’s fifty day simple moving average is $54.67 and its 200-day simple moving average is $54.93.
Advance Auto Parts (NYSE:AAP – Get Free Report) last released its earnings results on Thursday, August 20th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22. Advance Auto Parts had a return on equity of 9.84% and a net margin of 0.97%.The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the business posted $0.69 earnings per share. Advance Auto Parts’s revenue was down .5% compared to the same quarter last year. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. As a group, equities analysts expect that Advance Auto Parts, Inc. will post 2.97 earnings per share for the current fiscal year.
Advance Auto Parts Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, October 9th. Advance Auto Parts’s payout ratio is 72.99%.
Advance Auto Parts 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.
Featured Articles
- Five stocks we like better than Advance Auto Parts
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP – Free Report).
Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.
