Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in Advance Auto Parts, Inc. (NYSE:AAP) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,149 shares of the company’s stock after selling 1,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Advance Auto Parts were worth $3,663,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in AAP. Doyle Wealth Management bought a new position in Advance Auto Parts in the second quarter valued at $31,000. Berman Capital Advisors LLC increased its stake in Advance Auto Parts by 172.8% in the second quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $33,000 after acquiring an additional 140 shares during the last quarter. Citizens Financial Group Inc RI increased its stake in Advance Auto Parts by 466.7% in the second quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock valued at $34,000 after acquiring an additional 182 shares during the last quarter. Avestar Capital LLC increased its stake in Advance Auto Parts by 625.0% in the second quarter. Avestar Capital LLC now owns 406 shares of the company’s stock valued at $42,000 after acquiring an additional 350 shares during the last quarter. Finally, CSat Investment Advisory L.P. increased its stake in Advance Auto Parts by 66.9% in the second quarter. CSat Investment Advisory L.P. now owns 292 shares of the company’s stock valued at $45,000 after acquiring an additional 117 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on AAP shares. Citigroup raised Advance Auto Parts from a “neutral” rating to a “buy” rating and increased their target price for the company from $156.00 to $188.00 in a research note on Friday, September 13th. Goldman Sachs Group started coverage on Advance Auto Parts in a research note on Thursday, July 11th. They issued a “sell” rating and a $151.00 target price on the stock. JPMorgan Chase & Co. set a $222.00 target price on Advance Auto Parts and gave the company a “buy” rating in a research note on Monday, August 12th. Evercore ISI reissued a “buy” rating on shares of Advance Auto Parts in a research note on Tuesday, August 13th. Finally, Guggenheim cut Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $182.88.
Shares of NYSE:AAP opened at $169.70 on Thursday. The stock’s 50-day moving average price is $161.79 and its 200-day moving average price is $155.57. Advance Auto Parts, Inc. has a 12-month low of $130.09 and a 12-month high of $186.15. The stock has a market capitalization 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. The company has a current ratio of 1.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.76.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.22). Advance Auto Parts had a net margin of 4.52% and a return on equity of 15.16%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business posted $1.97 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts predict 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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