Lazard Asset Management LLC Has $272.19 Million Holdings in Advance Auto Parts Inc (AAP)
Lazard Asset Management LLC reduced its stake in shares of Advance Auto Parts Inc (NYSE:AAP) by 25.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,334,616 shares of the company’s stock after selling 800,745 shares during the period. Lazard Asset Management LLC owned approximately 3.16% of Advance Auto Parts worth $272,192,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAP. Strs Ohio grew its position in Advance Auto Parts by 0.7% during the 1st quarter. Strs Ohio now owns 3,955 shares of the company’s stock worth $586,000 after purchasing an additional 28 shares during the period. Canada Pension Plan Investment Board grew its position in Advance Auto Parts by 51,135.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,247 shares of the company’s stock worth $1,519,000 after purchasing an additional 10,227 shares during the period. First Trust Advisors LP grew its position in Advance Auto Parts by 148.1% during the 1st quarter. First Trust Advisors LP now owns 22,360 shares of the company’s stock worth $3,315,000 after purchasing an additional 13,347 shares during the period. UBS Asset Management Americas Inc. grew its position in Advance Auto Parts by 10.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 188,241 shares of the company’s stock worth $27,909,000 after purchasing an additional 18,149 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new stake in Advance Auto Parts during the 1st quarter worth about $581,000.
Advance Auto Parts Inc (NYSE AAP) traded up 0.1652% during midday trading on Monday, reaching $99.6744. The company had a trading volume of 506,269 shares. The firm’s 50 day moving average is $100.43 and its 200 day moving average is $126.42. Advance Auto Parts Inc has a 1-year low of $82.21 and a 1-year high of $177.83. The stock has a market capitalization of $7.36 billion, a PE ratio of 19.8991 and a beta of 0.90.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.07). Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts anticipate that Advance Auto Parts Inc will post $5.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.24%. Advance Auto Parts’s payout ratio is currently 4.80%.
Several brokerages have weighed in on AAP. Bank of America Corporation reaffirmed an “underperform” rating and set a $87.50 price target on shares of Advance Auto Parts in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Wednesday, May 24th. Royal Bank Of Canada cut their price target on Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 6th. Wedbush reaffirmed an “outperform” rating on shares of Advance Auto Parts in a research report on Thursday, July 6th. Finally, UBS AG reaffirmed a “buy” rating and set a $170.00 price target (down from $180.00) on shares of Advance Auto Parts in a research report on Thursday, May 25th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $123.45.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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