Goodman Financial Corp Grows Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Goodman Financial Corp increased its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 34.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,379 shares of the company’s stock after purchasing an additional 59,676 shares during the period. Advance Auto Parts accounts for 2.1% of Goodman Financial Corp’s holdings, making the stock its 28th biggest holding. Goodman Financial Corp owned 0.39% of Advance Auto Parts worth $9,178,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co lifted its holdings in shares of Advance Auto Parts by 3.5% in the second quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock worth $430,000 after buying an additional 232 shares in the last quarter. OLD National Bancorp IN lifted its stake in Advance Auto Parts by 6.8% in the 2nd quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after purchasing an additional 237 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Advance Auto Parts by 0.5% during the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock valued at $3,779,000 after purchasing an additional 277 shares during the last quarter. Qsemble Capital Management LP grew its position in shares of Advance Auto Parts by 7.6% during the second quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock valued at $256,000 after purchasing an additional 285 shares in the last quarter. Finally, Everence Capital Management Inc. increased its holdings in shares of Advance Auto Parts by 3.7% in the third quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock worth $325,000 after purchasing an additional 300 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on AAP shares. Evercore ISI increased their price target on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. DA Davidson reiterated a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. Wells Fargo & Company reduced their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. The Goldman Sachs Group decreased their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Royal Bank of Canada dropped their price objective on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.64.

Advance Auto Parts Stock Performance

Shares of NYSE:AAP opened at $43.50 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 59.49 and a beta of 1.17. The firm’s 50-day moving average is $39.02 and its 200 day moving average is $52.86.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the firm earned ($0.82) EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Research analysts predict that Advance Auto Parts, Inc. will post -0.51 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

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.