Sei Investments Co. increased its position in Advance Auto Parts Inc (NYSE:AAP) by 30.6% during the second quarter, Holdings Channel reports. The fund owned 85,532 shares of the company’s stock after buying an additional 20,021 shares during the period. Sei Investments Co.’s holdings in Advance Auto Parts were worth $9,972,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares during the last quarter. Huntington National Bank boosted its stake in Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after buying an additional 283 shares during the last quarter. Van ECK Associates Corp boosted its stake in Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after buying an additional 67 shares during the last quarter. Global X Management Co. LLC boosted its stake 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 worth $144,000 after buying an additional 218 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Advance Auto Parts during the first quarter worth $148,000.
Advance Auto Parts Inc (NYSE AAP) opened at 106.13 on Friday. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 19.23 and a beta of 0.87. Advance Auto Parts Inc has a 52-week low of $99.13 and a 52-week high of $177.83. The company has a 50-day moving average of $108.95 and a 200-day moving average of $138.26.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the business earned $2.51 earnings per share. Advance Auto Parts’s quarterly revenue was down 3.0% on a year-over-year basis. Equities research analysts expect that Advance Auto Parts Inc will post $6.37 EPS for the current year.
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A number of research firms have weighed in on AAP. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Advance Auto Parts in a report on Wednesday, May 24th. Royal Bank Of Canada cut their price objective on shares of Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating on the stock in a report on Thursday, July 6th. Wedbush reissued an “outperform” rating on shares of Advance Auto Parts in a report on Thursday, July 6th. UBS AG reissued a “buy” rating and set a $170.00 price objective (down previously from $180.00) on shares of Advance Auto Parts in a report on Thursday, May 25th. Finally, Morgan Stanley reissued an “overweight” rating and set a $125.00 price objective (down previously from $160.00) on shares of Advance Auto Parts in a report on Thursday, July 6th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Advance Auto Parts presently has an average rating of “Hold” and an average price target of $149.06.
In other Advance Auto Parts news, Director Brad W. Buss purchased 1,200 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $134.47 per share, with a total value of $161,364.00. Following the completion of the purchase, the director now owns 1,928 shares in the company, valued at approximately $259,258.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Adriana Karaboutis purchased 367 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was acquired at an average cost of $135.28 per share, with a total value of $49,647.76. Following the purchase, the director now owns 3,043 shares of the company’s stock, valued at approximately $411,657.04. The disclosure for this purchase can be found here. In the last three months, insiders bought 369,462 shares of company stock valued at $49,617,073. Company insiders own 4.50% of the company’s stock.
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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