Centre Asset Management LLC Invests $4.37 Million in Advance Auto Parts, Inc. (AAP) Stock

Centre Asset Management LLC bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,220 shares of the company’s stock, valued at approximately $4,372,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAP. Franklin Resources Inc. boosted its stake in Advance Auto Parts by 50.5% in the first quarter. Franklin Resources Inc. now owns 5,144,383 shares of the company’s stock valued at $609,873,000 after acquiring an additional 1,725,493 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Advance Auto Parts by 459.6% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,858,459 shares of the company’s stock valued at $220,321,000 after acquiring an additional 1,526,368 shares during the last quarter. Kiltearn Partners LLP purchased a new position in Advance Auto Parts in the first quarter valued at about $82,404,000. Lord Abbett & CO. LLC boosted its stake in Advance Auto Parts by 293.2% in the first quarter. Lord Abbett & CO. LLC now owns 868,502 shares of the company’s stock valued at $102,961,000 after acquiring an additional 647,602 shares during the last quarter. Finally, Allen Investment Management LLC purchased a new position in Advance Auto Parts in the first quarter valued at about $61,630,000.

Advance Auto Parts opened at $147.79 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 1.61. The company has a market cap of $10.75 billion, a P/E ratio of 24.69, a PEG ratio of 1.95 and a beta of 1.12. Advance Auto Parts, Inc. has a 1-year low of $78.81 and a 1-year high of $148.70.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, May 22nd. The company reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.13. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.91 billion. Advance Auto Parts had a net margin of 5.39% and a return on equity of 13.09%. Advance Auto Parts’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.60 EPS. research analysts expect that Advance Auto Parts, Inc. will post 6.81 EPS for the current year.

A number of brokerages recently commented on AAP. ValuEngine upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. Bank of America upped their price target on shares of Advance Auto Parts from $86.00 to $103.00 and gave the company an “underperform” rating in a research note on Wednesday, June 27th. Zacks Investment Research cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Monday. Stephens restated a “hold” rating and set a $130.00 price target on shares of Advance Auto Parts in a research note on Friday, July 13th. Finally, UBS Group restated a “buy” rating and set a $160.00 price target on shares of Advance Auto Parts in a research note on Friday, June 22nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $129.20.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.

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

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