Royce & Associates LP Sells 191,143 Shares of Advance Auto Parts, Inc. $AAP

Royce & Associates LP trimmed its position in Advance Auto Parts, Inc. (NYSE:AAP) by 14.4% during the third quarter, Holdings Channel reports. The firm owned 1,133,416 shares of the company’s stock after selling 191,143 shares during the quarter. Advance Auto Parts makes up approximately 0.7% of Royce & Associates LP’s portfolio, making the stock its 14th largest holding. Royce & Associates LP’s holdings in Advance Auto Parts were worth $69,592,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AAP. Salomon & Ludwin LLC bought a new position in Advance Auto Parts during the third quarter worth about $26,000. AlphaCore Capital LLC lifted its position in shares of Advance Auto Parts by 6,288.9% in the third quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock valued at $35,000 after buying an additional 566 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Advance Auto Parts by 198.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $46,000 after acquiring an additional 499 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of Advance Auto Parts during the 3rd quarter worth approximately $52,000. Finally, Westfuller Advisors LLC acquired a new position in shares of Advance Auto Parts during the 3rd quarter worth approximately $56,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Up 2.2%

Shares of AAP opened at $53.15 on Friday. The company has a current ratio of 1.75, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The firm’s 50 day moving average is $47.71 and its 200-day moving average is $52.19. The stock has a market capitalization of $3.19 billion, a PE ratio of 72.81, a P/E/G ratio of 0.72 and a beta of 1.14.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Friday, February 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.45. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the business posted ($10.16) earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, April 10th will be given a $0.25 dividend. The ex-dividend date is Friday, April 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, February 17th. Truist Financial upped their price target on shares of Advance Auto Parts from $48.00 to $57.00 and gave the company a “hold” rating in a research note on Tuesday, February 17th. Morgan Stanley set a $60.00 price objective on shares of Advance Auto Parts in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, January 21st. Finally, Roth Mkm reiterated a “neutral” rating and set a $57.00 target price on shares of Advance Auto Parts in a research note on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $53.03.

Advance Auto Parts Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.