The State Board of Administration of Florida Retirement System decreased its Advance Auto Parts, Inc. holding by 2.4% in the fourth quarter. The business possessed nearly 79,000 AAP shares but sold 1,950 at the conclusion of the most recent reporting period, according to a Form 13F filing with the SEC.
Advance vehicle Parts sells aftermarket vehicle parts to DIYers and professionals. Carquest U.S., Canada, Worldpac, and Independents are its segments. Arthur Taubman created the Raleigh, North Carolina-based corporation in 1929.
AAP’s stock began at $125.75 on Tuesday, despite its longstanding reputation. Given its long history, Advance Auto Parts has a $7.45 billion market value, a 15.21 price-to-earnings ratio, and a 1.02 PEG ratio.
AAP’s fifty-two week high is over double its low, illustrating the stock’s volatility this year.
Finally, Advance Auto Parts’ quick ratio is 0.21 and their current ratio is 1.13, making their debt-to-equity ratio advantageous to investors having assets in numerous high-potential firms.
AAP stock has risks and benefits, but astute investors will have anticipated these moves months ago when prior trends became obvious. Regardless of stock market volatility, Advance Auto Parts appears to have a bright future.
Advance Auto Parts Performs Well Despite Automotive Industry Changes
Advance Auto Parts, Inc. in Raleigh, NC sells aftermarket automobile parts to professional installers and DIYers. Arthur Taubman created the firm in 1929. Its sectors include Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents.
Several hedge funds and institutional investors have lately bought or sold company shares. Vanguard Group Inc., one of the world’s largest asset managers, increased its stake in Advance Auto Parts by 4.0% in the third quarter, buying 277,906 shares for $1,139,936,000.
Clearbridge Investments LLC and Invesco Ltd. increased their Advance Auto Parts shares with Vanguard Group Inc. Their positions climbed 3.6% and 10.8%. Balyasny Asset Management LLC grew its investment from $9 million to $477 million, while Dimensional Fund Advisors LP increased its position by 2.5%.
Since then, stock research analysts have rated AAP shares “hold,” “neutral,” “buy,” or “strong buy.” Raymond James cut their target price from $180 to $160 on April 19, 2018, while maintaining a “Strong Buy” rating. StockNews.com gave AAP a “buy” recommendation on March 16, 2018.
Despite pandemic-induced economic disruptions causing roller-coaster-like fluctuations in sectors primarily based on brick-and-mortar models during Q1 last year, followed by global supply chain disruptions and chip shortage issues, AAP delivered steady movements throughout Q2 and Q3 last year. The firm reported $2.88 earnings per share for the quarter, beating the average estimate of $2.41 by $0.47.
AAP announced $2.47 billion in quarterly sales, exceeding market forecasts of $2.42 billion. YoY increase was 3.2%.
AAP’s dividend rate (4.77%) leads its competitors and its continuous EPS performance benefits shareholders in this unprecedented market turmoil.