232,000 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Bought by Maple Rock Capital Partners Inc.

Maple Rock Capital Partners Inc. purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 232,000 shares of the company’s stock, valued at approximately $9,046,000. Advance Auto Parts makes up about 0.3% of Maple Rock Capital Partners Inc.’s investment portfolio, making the stock its 27th largest holding. Maple Rock Capital Partners Inc. owned 0.39% of Advance Auto Parts as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Diversified Trust Co increased its position in Advance Auto Parts by 3.5% in the 2nd quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock valued at $430,000 after buying an additional 232 shares in the last quarter. OLD National Bancorp IN raised its position in shares of Advance Auto Parts by 6.8% during the second quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after purchasing an additional 237 shares during the period. Sei Investments Co. lifted its holdings in shares of Advance Auto Parts by 0.5% in the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock worth $3,779,000 after purchasing an additional 277 shares in the last quarter. Qsemble Capital Management LP grew its position in Advance Auto Parts by 7.6% in the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock valued at $256,000 after purchasing an additional 285 shares during the period. Finally, Everence Capital Management Inc. increased its stake in Advance Auto Parts by 3.7% during the 3rd quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock valued at $325,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analyst Upgrades and Downgrades

AAP has been the subject of a number of analyst reports. Roth Mkm reiterated a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. Truist Financial decreased their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday, November 15th. DA Davidson restated a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. JPMorgan Chase & Co. cut their target price on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, The Goldman Sachs Group decreased their target price on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.64.

Advance Auto Parts Stock Up 0.1 %

AAP opened at $42.65 on Wednesday. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average price of $39.28 and a 200-day moving average price of $51.28. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 58.43 and a beta of 1.21.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the business posted ($0.82) earnings per share. Advance Auto Parts’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

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.