Focus Partners Wealth lifted its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 40.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,343 shares of the company's stock after buying an additional 8,469 shares during the period. Focus Partners Wealth's holdings in Advance Auto Parts were worth $1,388,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Ensign Peak Advisors Inc lifted its position in Advance Auto Parts by 36.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 26,403 shares of the company's stock worth $1,249,000 after acquiring an additional 7,035 shares in the last quarter. Estuary Capital Management LP raised its stake in shares of Advance Auto Parts by 21.4% during the fourth quarter. Estuary Capital Management LP now owns 955,117 shares of the company's stock valued at $45,167,000 after purchasing an additional 168,149 shares during the period. Eminence Capital LP acquired a new position in shares of Advance Auto Parts during the fourth quarter worth $87,214,000. Bridgeway Capital Management LLC purchased a new position in shares of Advance Auto Parts in the fourth quarter valued at $17,127,000. Finally, Captrust Financial Advisors purchased a new position in shares of Advance Auto Parts in the fourth quarter valued at $307,000. Institutional investors and hedge funds own 88.75% of the company's stock.
Advance Auto Parts Stock Performance
Shares of NYSE:AAP traded down $2.80 on Wednesday, reaching $31.36. 4,727,323 shares of the company's stock were exchanged, compared to its average volume of 2,298,388. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $73.16. The business's 50-day moving average is $34.30 and its two-hundred day moving average is $40.28. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 42.96, a PEG ratio of 1.98 and a beta of 0.93.
Analysts Set New Price Targets
AAP has been the topic of several analyst reports. Evercore ISI dropped their price target on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Wells Fargo & Company dropped their target price on Advance Auto Parts from $40.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday. Wedbush reiterated an "outperform" rating and issued a $55.00 price target on shares of Advance Auto Parts in a research note on Monday, March 3rd. Citigroup lowered their price objective on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Royal Bank of Canada dropped their price objective on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts presently has an average rating of "Hold" and a consensus price target of $44.50.
Read Our Latest Report on AAP
Insider Buying and Selling
In related news, Director Eugene I. Lee, Jr. acquired 14,640 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the transaction, the director now directly owns 34,070 shares of the company's stock, valued at $1,163,490.50. This trade represents a 75.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shane M. Okelly purchased 1,500 shares of Advance Auto Parts stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, with a total value of $55,185.00. Following the acquisition, the chief executive officer now owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. This trade represents a 0.83% increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.
About Advance Auto Parts
(
Free Report)
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.
Further Reading
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