Dynamic Technology Lab Private Ltd Boosts Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Dynamic Technology Lab Private Ltd raised its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 19.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,108 shares of the company’s stock after buying an additional 12,704 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Advance Auto Parts were worth $3,045,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Advance Auto Parts during the third quarter worth approximately $14,684,000. Wolverine Asset Management LLC grew its position in Advance Auto Parts by 212.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock valued at $1,223,000 after acquiring an additional 21,320 shares during the last quarter. BW Gestao de Investimentos Ltda. purchased a new position in Advance Auto Parts in the 2nd quarter worth about $7,916,000. Quest Partners LLC purchased a new stake in Advance Auto Parts in the 3rd quarter valued at about $579,000. Finally, Renaissance Technologies LLC grew its stake in Advance Auto Parts by 26.9% in the 2nd quarter. Renaissance Technologies LLC now owns 185,450 shares of the company’s stock worth $11,745,000 after acquiring an additional 39,300 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. Roth Mkm restated a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. Mizuho reiterated a “neutral” rating and set a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group dropped their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $48.64.

Advance Auto Parts Price Performance

Shares of AAP opened at $40.79 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. Advance Auto Parts, Inc. has a 1-year low of $35.59 and a 1-year high of $88.56. The stock has a market cap of $2.44 billion, a PE ratio of 55.88 and a beta of 1.17. The firm has a fifty day moving average price of $39.02 and a 200 day moving average price of $52.86.

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

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 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.