CIBC Asset Management Inc Sells 1,750 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

CIBC Asset Management Inc reduced its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 17.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,224 shares of the company’s stock after selling 1,750 shares during the quarter. CIBC Asset Management Inc’s holdings in Advance Auto Parts were worth $1,360,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AAP. FMR LLC increased its holdings in Advance Auto Parts by 287.6% during the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock valued at $23,708,000 after purchasing an additional 103,160 shares during the period. Private Trust Co. NA acquired a new position in Advance Auto Parts during the second quarter valued at $548,000. Zions Bancorporation N.A. lifted its position in Advance Auto Parts by 292.3% during the second quarter. Zions Bancorporation N.A. now owns 1,577 shares of the company’s stock valued at $243,000 after purchasing an additional 1,175 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Advance Auto Parts during the second quarter valued at $426,000. Finally, NN Investment Partners Holdings N.V. lifted its position in Advance Auto Parts by 9.5% during the second quarter. NN Investment Partners Holdings N.V. now owns 10,959 shares of the company’s stock valued at $1,690,000 after purchasing an additional 947 shares during the period. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a research report on Wednesday, July 31st. Guggenheim downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 14th. Goldman Sachs Group assumed coverage on shares of Advance Auto Parts in a research report on Thursday, July 11th. They set a “sell” rating and a $151.00 target price for the company. UBS Group upped their price objective on shares of Advance Auto Parts from $170.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup upgraded shares of Advance Auto Parts from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $156.00 to $188.00 in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $182.88.

Shares of Advance Auto Parts stock opened at $169.70 on Thursday. The firm has a 50-day simple moving average of $161.79 and a two-hundred day simple moving average of $155.57. The company has a market cap of $11.89 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 1.81 and a beta of 0.84. Advance Auto Parts, Inc. has a fifty-two week low of $130.09 and a fifty-two week high of $186.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.36 and a current ratio of 1.36.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.22). Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company posted $1.97 EPS. The company’s revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Advance Auto Parts, Inc. will post 7.96 EPS for the current year.

Advance Auto Parts Company 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.

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

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