Entropy Technologies LP Purchases Shares of 5,169 Advance Auto Parts, Inc. (NYSE:AAP)

Entropy Technologies LP purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,169 shares of the company's stock, valued at approximately $244,000.

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

Advance Auto Parts Price Performance

Shares of NYSE:AAP traded down $0.57 during midday trading on Monday, hitting $48.03. 1,176,254 shares of the stock were exchanged, compared to its average volume of 1,431,399. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average price of $46.29 and a 200-day moving average price of $44.63. The stock has a market cap of $2.87 billion, a P/E ratio of 65.79, a PEG ratio of 2.23 and a beta of 1.15.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its 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). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the firm posted ($0.82) EPS. The business's revenue was down 3.2% on a year-over-year basis. On average, research analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

AAP has been the topic of several analyst reports. Evercore ISI lifted 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. UBS Group boosted their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Wedbush restated an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. Truist Financial lowered their target price on shares of Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating on the stock in a report on Friday, November 15th. Finally, DA Davidson reissued a "neutral" rating and set a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of "Hold" and an average price target of $47.93.

Insider Buying and Selling

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company's stock.

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.