Goodman Financial Corp Buys 59,676 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Goodman Financial Corp grew its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 34.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,379 shares of the company’s stock after acquiring 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’s holdings in Advance Auto Parts were worth $9,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Mather Group LLC. boosted its holdings in shares of Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after purchasing an additional 596 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Advance Auto Parts in the 2nd quarter worth $41,000. Blue Trust Inc. grew its position in shares of Advance Auto Parts by 56.7% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after buying an additional 436 shares in the last quarter. AM Squared Ltd purchased a new position in shares of Advance Auto Parts during the second quarter valued at $63,000. Finally, KBC Group NV raised its holdings in shares of Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after acquiring an additional 394 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Up 0.2 %

Advance Auto Parts stock opened at $43.50 on Tuesday. Advance Auto Parts, Inc. has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a market cap of $2.60 billion, a PE ratio of 59.49 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The business’s 50-day simple moving average is $39.02 and its two-hundred day simple moving average is $52.86.

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

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. Advance Auto Parts’s payout ratio is 136.99%.

Analysts Set New Price Targets

Several research analysts have issued reports on AAP shares. Evercore ISI increased their target price on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. DA Davidson restated a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. Finally, Truist Financial cut their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.64.

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.