Dynamic Technology Lab Private Ltd Acquires 12,704 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Dynamic Technology Lab Private Ltd lifted its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,108 shares of the company’s stock after purchasing an additional 12,704 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.13% of Advance Auto Parts worth $3,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Studio Investment Management LLC grew its position in Advance Auto Parts by 41.4% during the 3rd quarter. Studio Investment Management LLC now owns 5,207 shares of the company’s stock valued at $203,000 after purchasing an additional 1,524 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Advance Auto Parts by 140.3% during the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after buying an additional 1,698,155 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Advance Auto Parts during the third quarter valued at approximately $14,684,000. Commerce Bank raised its holdings in Advance Auto Parts by 304.1% in the 3rd quarter. Commerce Bank now owns 14,648 shares of the company’s stock worth $571,000 after acquiring an additional 11,023 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Advance Auto Parts in the 3rd quarter valued at approximately $579,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Up 5.4 %

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

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The business 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%. Advance Auto Parts’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. On average, sell-side analysts forecast that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given 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 is Friday, January 10th. Advance Auto Parts’s payout ratio is currently 136.99%.

Analyst Ratings Changes

AAP has been the subject of several recent analyst reports. UBS Group boosted their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. Evercore ISI raised their price target on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Mizuho reissued a “neutral” rating and set a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Finally, Wells Fargo & Company dropped their target price on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.64.

About Advance Auto Parts

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.