Lecap Asset Management Ltd. Takes Position in Advance Auto Parts, Inc. (NYSE:AAP)

Lecap Asset Management Ltd. acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 84,743 shares of the company’s stock, valued at approximately $3,304,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its holdings in shares of Advance Auto Parts by 267.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after acquiring an additional 257 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Advance Auto Parts during the 1st quarter worth approximately $34,000. Future Financial Wealth Managment LLC purchased a new stake in Advance Auto Parts in the 1st quarter valued at approximately $43,000. Mather Group LLC. boosted its stake in shares of Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after acquiring an additional 596 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Advance Auto Parts during the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAP. Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 15th. Mizuho reiterated a “neutral” rating and set a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. TD Cowen lowered their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. cut their price target on shares of 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, Truist Financial lowered their price objective on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and an average price target of $55.86.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $38.75 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. The firm’s fifty day moving average price is $43.65 and its 200 day moving average price is $58.82. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 56.16, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. Advance Auto Parts, Inc. has a 12-month low of $36.40 and a 12-month high of $88.56.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 earnings per share. On average, research analysts forecast that Advance Auto Parts, Inc. will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s dividend payout ratio is presently 144.93%.

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.