Lecap Asset Management Ltd. Takes Position in Advance Auto Parts, Inc. $AAP

Lecap Asset Management Ltd. acquired a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,287 shares of the company’s stock, valued at approximately $804,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAP. Hexagon Capital Partners LLC grew its stake in shares of Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $28,000 after buying an additional 465 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Advance Auto Parts by 355.8% during the second quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock valued at $44,000 after buying an additional 733 shares during the last quarter. Financial Management Professionals Inc. bought a new position in shares of Advance Auto Parts during the first quarter valued at about $49,000. Exchange Traded Concepts LLC boosted its holdings in shares of Advance Auto Parts by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company’s stock worth $91,000 after purchasing an additional 2,140 shares during the period. Finally, Quarry LP boosted its holdings in shares of Advance Auto Parts by 688.6% during the first quarter. Quarry LP now owns 2,421 shares of the company’s stock worth $95,000 after purchasing an additional 2,114 shares during the period. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AAP shares. UBS Group set a $65.00 target price on shares of Advance Auto Parts and gave the stock a “neutral” rating in a report on Tuesday, August 12th. Argus reiterated a “hold” rating and set a $60.52 target price on shares of Advance Auto Parts in a report on Friday, August 29th. The Goldman Sachs Group lowered shares of Advance Auto Parts from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $48.00 to $46.00 in a report on Tuesday, June 24th. Morgan Stanley increased their target price on shares of Advance Auto Parts from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, September 12th. Finally, Mizuho increased their target price on shares of Advance Auto Parts from $44.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Buy rating, nineteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $52.03.

Advance Auto Parts Price Performance

AAP stock opened at $62.16 on Friday. The firm has a 50 day moving average price of $59.30 and a 200-day moving average price of $48.82. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -9.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, August 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the business earned $0.75 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Advance Auto Parts’s dividend payout ratio (DPR) is -15.70%.

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.