Nisa Investment Advisors LLC Grows Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Nisa Investment Advisors LLC boosted its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 58.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,689 shares of the company's stock after purchasing an additional 7,285 shares during the period. Nisa Investment Advisors LLC's holdings in Advance Auto Parts were worth $931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pzena Investment Management LLC grew its holdings in Advance Auto Parts by 140.3% during the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company's stock worth $113,409,000 after acquiring an additional 1,698,155 shares during the period. Royce & Associates LP grew its holdings in Advance Auto Parts by 31.7% during the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company's stock worth $41,937,000 after acquiring an additional 258,656 shares during the period. International Assets Investment Management LLC acquired a new stake in Advance Auto Parts during the 3rd quarter worth about $17,477,000. Clearline Capital LP grew its holdings in Advance Auto Parts by 9.8% during the 3rd quarter. Clearline Capital LP now owns 445,244 shares of the company's stock worth $17,360,000 after acquiring an additional 39,699 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Advance Auto Parts during the 3rd quarter worth about $14,684,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock traded down $0.39 during mid-day trading on Tuesday, hitting $48.83. 1,123,992 shares of the stock were exchanged, compared to its average volume of 1,688,087. Advance Auto Parts, Inc. has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a 50-day simple moving average of $44.64 and a 200 day simple moving average of $46.05. 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 company has a market capitalization of $2.92 billion, a P/E ratio of 66.89, a P/E/G ratio of 2.13 and a beta of 1.16.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the business earned ($0.82) EPS. Advance Auto Parts's quarterly revenue was down 3.2% compared to the same quarter last year. Sell-side analysts anticipate that Advance Auto Parts, Inc. will post -0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Tammy M. Finley sold 1,276 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares in the company, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAP. Roth Mkm reiterated a "neutral" rating and set a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. Truist Financial decreased their price target on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating for the company in a report on Friday, November 15th. DA Davidson restated a "neutral" rating and issued a $45.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. Evercore ISI raised their target price 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. Finally, Barclays reduced their target price on Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $47.93.

Advance Auto Parts 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.