7,500 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Purchased by Sovran Advisors LLC

Sovran Advisors LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,500 shares of the company’s stock, valued at approximately $335,000.

Other hedge funds have also recently bought and sold shares of the company. Pzena Investment Management LLC raised its stake in 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 worth $113,409,000 after purchasing an additional 1,698,155 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Advance Auto Parts by 31.7% during the third quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock worth $41,937,000 after purchasing an additional 258,656 shares during the period. International Assets Investment Management LLC acquired a new stake in Advance Auto Parts during the third quarter worth approximately $17,477,000. Clearline Capital LP grew its position in 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Advance Auto Parts during the third quarter worth approximately $14,684,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction on 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 owns 24,266 shares in the company, valued at $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AAP. Royal Bank of Canada dropped their price target on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. The Goldman Sachs Group decreased their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Truist Financial reduced their price target on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Evercore ISI increased their price target on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. Finally, DA Davidson restated a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.93.

Advance Auto Parts Stock Up 1.0 %

Shares of NYSE AAP opened at $47.49 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. Advance Auto Parts, Inc. has a 1 year low of $35.59 and a 1 year high of $88.56. The company has a 50 day simple moving average of $46.12 and a 200 day simple moving average of $45.05. The firm has a market cap of $2.84 billion, a PE ratio of 65.06, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm earned ($0.82) EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts 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.