Zurcher Kantonalbank Zurich Cantonalbank Buys 1,298 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 9.0% during the first quarter, HoldingsChannel reports. The firm owned 15,774 shares of the company’s stock after purchasing an additional 1,298 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Advance Auto Parts were worth $618,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its position in Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $28,000 after purchasing an additional 465 shares during the period. Advisory Services Network LLC purchased a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $46,000. Financial Management Professionals Inc. purchased a new position in shares of Advance Auto Parts in the 1st quarter worth approximately $49,000. Exchange Traded Concepts LLC grew its position in shares of Advance Auto Parts by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company’s stock worth $91,000 after buying an additional 2,140 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Advance Auto Parts by 69.8% in the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company’s stock worth $111,000 after buying an additional 1,168 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Up 5.9%

AAP opened at $60.45 on Thursday. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The company has a fifty day moving average of $54.01 and a two-hundred day moving average of $44.15. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of -10.30 and a beta of 1.05.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.59. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was down 24.2% on a year-over-year basis. On average, research analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. Advance Auto Parts’s dividend payout ratio is currently -17.04%.

Analysts Set New Price Targets

AAP has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Advance Auto Parts from $49.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Bank of America boosted their target price on shares of Advance Auto Parts from $33.00 to $39.00 and gave the stock an “underperform” rating in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Sunday, June 29th. Mizuho boosted their target price on shares of Advance Auto Parts from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, July 3rd. Finally, Evercore ISI boosted their target price on shares of Advance Auto Parts from $52.00 to $56.00 and gave the stock an “in-line” rating in a research report on Friday, July 25th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.53.

Insiders Place Their Bets

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $48.52, for a total transaction of $45,996.96. Following the completion of the transaction, the senior vice president directly owned 9,876 shares in the company, valued at approximately $479,183.52. This represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Advance Auto Parts Company Profile

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.