Advance Auto Parts Inc (AAP) Stake Lifted by Engineers Gate Manager LP

Engineers Gate Manager LP raised its position in Advance Auto Parts Inc (NYSE:AAP) by 290.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,600 shares of the company’s stock after purchasing an additional 4,167 shares during the period. Engineers Gate Manager LP’s holdings in Advance Auto Parts were worth $653,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAP. Strs Ohio lifted its position in shares of Advance Auto Parts by 0.7% in the 1st quarter. Strs Ohio now owns 3,955 shares of the company’s stock worth $586,000 after purchasing an additional 28 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Advance Auto Parts by 51,135.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,247 shares of the company’s stock worth $1,519,000 after purchasing an additional 10,227 shares during the period. First Trust Advisors LP lifted its position in shares of Advance Auto Parts by 148.1% in the 1st quarter. First Trust Advisors LP now owns 22,360 shares of the company’s stock worth $3,315,000 after purchasing an additional 13,347 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of Advance Auto Parts by 10.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 188,241 shares of the company’s stock worth $27,909,000 after purchasing an additional 18,149 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Advance Auto Parts in the 1st quarter worth approximately $581,000.

AAP has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $160.00 price objective (down previously from $185.00) on shares of Advance Auto Parts in a research note on Sunday, May 28th. Gabelli reiterated a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, August 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Advance Auto Parts in a research note on Tuesday, September 12th. Deutsche Bank AG reiterated a “buy” rating and issued a $139.00 price objective (down previously from $164.00) on shares of Advance Auto Parts in a research note on Friday, July 21st. Finally, BidaskClub lowered shares of Advance Auto Parts from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $123.08.

Shares of Advance Auto Parts Inc (NYSE AAP) opened at 99.51 on Friday. Advance Auto Parts Inc has a 1-year low of $82.21 and a 1-year high of $177.83. The stock has a 50 day moving average of $100.43 and a 200 day moving average of $126.42. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 19.87 and a beta of 0.90.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.07). Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. Advance Auto Parts’s revenue was up .3% compared to the same quarter last year. On average, equities analysts forecast that Advance Auto Parts Inc will post $5.17 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. Advance Auto Parts’s payout ratio is presently 4.80%.

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Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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