Twin Capital Management Inc. Takes Position in Advance Auto Parts, Inc. (AAP)
Twin Capital Management Inc. purchased a new position in Advance Auto Parts, Inc. (NYSE:AAP) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,173 shares of the company’s stock, valued at approximately $316,000.
Other institutional investors have also bought and sold shares of the company. QS Investors LLC lifted its position in shares of Advance Auto Parts by 0.9% in the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after buying an additional 9 shares during the last quarter. FDx Advisors Inc. bought a new position in shares of Advance Auto Parts in the 3rd quarter worth about $201,000. IFM Investors Pty Ltd bought a new position in shares of Advance Auto Parts in the 4th quarter worth about $207,000. Advisor Partners LLC bought a new position in shares of Advance Auto Parts in the 4th quarter worth about $208,000. Finally, Fiduciary Trust Co. lifted its position in Advance Auto Parts by 40.4% in the 3rd quarter. Fiduciary Trust Co. now owns 2,128 shares of the company’s stock valued at $211,000 after purchasing an additional 612 shares during the last quarter.
Several brokerages recently weighed in on AAP. JPMorgan Chase & Co. lifted their price objective on shares of Advance Auto Parts from $110.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Oppenheimer reiterated a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, November 14th. Stephens set a $108.00 price objective on shares of Advance Auto Parts and gave the company a “hold” rating in a research report on Tuesday, January 16th. Zacks Investment Research downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, Moffett Nathanson began coverage on shares of Advance Auto Parts in a research report on Monday, December 4th. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Hold” and an average price target of $109.91.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, November 14th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.18. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. Advance Auto Parts’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. equities research analysts forecast that Advance Auto Parts, Inc. will post 5.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 22nd were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, December 21st. This represents a $0.24 annualized dividend and a yield of 0.21%. Advance Auto Parts’s payout ratio is 5.03%.
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Advance Auto Parts 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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