Ingalls & Snyder LLC Boosts Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Ingalls & Snyder LLC lifted its position in Advance Auto Parts, Inc. (NYSE:AAP) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,680 shares of the company’s stock after buying an additional 317 shares during the quarter. Ingalls & Snyder LLC’s holdings in Advance Auto Parts were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AAP. Versant Capital Management Inc increased its holdings in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after purchasing an additional 365 shares during the period. Blue Trust Inc. increased its holdings in Advance Auto Parts by 56.7% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares during the period. KBC Group NV increased its holdings in Advance Auto Parts by 29.1% during the 3rd quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after purchasing an additional 394 shares during the period. GAMMA Investing LLC increased its holdings in Advance Auto Parts by 198.3% during the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after purchasing an additional 1,047 shares during the period. Finally, AM Squared Ltd increased its holdings in Advance Auto Parts by 100.0% during the 3rd quarter. AM Squared Ltd now owns 2,000 shares of the company’s stock worth $78,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets assumed coverage on Advance Auto Parts in a report on Friday, December 13th. They set a “market perform” rating and a $45.00 price target on the stock. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Barclays lowered their price objective on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Evercore ISI upped their price objective on 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, Truist Financial lowered their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.93.

Insiders Place Their Bets

In other news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by insiders.

Advance Auto Parts Stock Down 1.2 %

Advance Auto Parts stock opened at $48.03 on Friday. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56. The stock has a 50 day moving average of $46.27 and a two-hundred day moving average of $44.98. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 65.79, a PEG ratio of 2.23 and a beta of 1.15.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the business posted ($0.82) earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. As a group, research analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

About Advance Auto Parts

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.