Rothschild Asset Management Inc. raised its stake in Advance Auto Parts Inc (NYSE:AAP) by 42.1% during the second quarter, Holdings Channel reports. The firm owned 4,399 shares of the company’s stock after buying an additional 1,304 shares during the period. Rothschild Asset Management Inc.’s holdings in Advance Auto Parts were worth $513,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. IFP Advisors Inc raised its position in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares during the period. Huntington National Bank raised its position in Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after buying an additional 283 shares during the period. Van ECK Associates Corp raised its position in Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock valued at $143,000 after buying an additional 67 shares during the period. Global X Management Co. LLC raised its position in Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock valued at $144,000 after buying an additional 218 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new position in Advance Auto Parts during the first quarter valued at approximately $148,000.
Advance Auto Parts Inc (NYSE:AAP) opened at 107.34 on Friday. Advance Auto Parts Inc has a one year low of $99.13 and a one year high of $177.83. The company’s 50-day moving average price is $108.57 and its 200 day moving average price is $137.82. The firm has a market capitalization of $7.92 billion, a PE ratio of 19.45 and a beta of 0.87.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by $0.60. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.51 earnings per share. On average, analysts forecast that Advance Auto Parts Inc will post $6.37 earnings per share for the current year.
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Several research analysts have commented on the company. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Wednesday, May 24th. Royal Bank Of Canada cut their price target on Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 6th. Wedbush reaffirmed an “outperform” rating on shares of Advance Auto Parts in a research report on Thursday, July 6th. UBS AG reaffirmed a “buy” rating and set a $170.00 price target (down previously from $180.00) on shares of Advance Auto Parts in a research report on Thursday, May 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $125.00 price target (down previously from $160.00) on shares of Advance Auto Parts in a research report on Thursday, July 6th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $149.06.
In other news, insider Thomas Greco purchased 16,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was purchased at an average cost of $134.63 per share, with a total value of $2,154,080.00. Following the purchase, the insider now owns 111,030 shares in the company, valued at approximately $14,947,968.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adriana Karaboutis purchased 367 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average cost of $135.28 per share, with a total value of $49,647.76. Following the completion of the purchase, the director now owns 3,043 shares in the company, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 369,462 shares of company stock valued at $49,617,073. 4.50% of the stock is currently owned by corporate insiders.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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