Empowered Funds LLC acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 189,194 shares of the company's stock, valued at approximately $8,947,000. Empowered Funds LLC owned 0.32% of Advance Auto Parts at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Advance Auto Parts during the third quarter worth about $14,684,000. Wolverine Asset Management LLC increased its stake in Advance Auto Parts by 212.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company's stock worth $1,223,000 after buying an additional 21,320 shares during the period. Blue Trust Inc. lifted its holdings in Advance Auto Parts by 75.9% during the 4th quarter. Blue Trust Inc. now owns 2,119 shares of the company's stock worth $100,000 after buying an additional 914 shares in the last quarter. Quest Partners LLC purchased a new position in Advance Auto Parts in the 3rd quarter valued at approximately $579,000. Finally, Moody National Bank Trust Division purchased a new stake in shares of Advance Auto Parts during the fourth quarter worth $1,196,000. Institutional investors and hedge funds own 88.75% of the company's stock.
Insider Activity
In other news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction dated 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 approximately $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on AAP. The Goldman Sachs Group lowered their target price on Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Barclays lowered their price objective on Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, January 9th. Wells Fargo & Company raised their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Roth Mkm reiterated a "neutral" rating and issued a $40.00 price target on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Finally, BMO Capital Markets began coverage on shares of Advance Auto Parts in a research report on Friday, December 13th. They issued a "market perform" rating and a $45.00 price objective on the stock. 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, Advance Auto Parts has a consensus rating of "Hold" and a consensus target price of $47.93.
Read Our Latest Research Report on AAP
Advance Auto Parts Stock Performance
Shares of AAP traded up $0.95 during midday trading on Thursday, reaching $48.44. 2,214,183 shares of the stock were exchanged, compared to its average volume of 1,659,817. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 66.35, a PEG ratio of 2.23 and a beta of 1.15. The business's 50-day moving average price is $46.12 and its 200 day moving average price is $45.05.
Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly 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). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company's quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned ($0.82) EPS. On average, sell-side analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.
About Advance Auto Parts
(
Free Report)
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.
Further Reading
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