Blueshift Asset Management LLC Has $1.04 Million Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Key Points

• Blueshift Asset Management LLC increased its stake in Advance Auto Parts by 79.5% in Q1, now holding 26,423 shares valued at approximately $1.04 million.
• Advance Auto Parts reported a loss of $0.22 earnings per share for the last quarter, beating estimates but experiencing a 24.2% decline in revenue year-over-year.
• Recent analyst reports have adjusted price targets for Advance Auto Parts, with DA Davidson increasing it from $47 to $65, while the consensus rating remains a "Hold."

Blueshift Asset Management LLC grew its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 79.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,423 shares of the company's stock after purchasing an additional 11,706 shares during the period. Blueshift Asset Management LLC's holdings in Advance Auto Parts were worth $1,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its position in shares of Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after purchasing an additional 465 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Advance Auto Parts during the 4th quarter worth about $46,000. Financial Management Professionals Inc. acquired a new stake in shares of Advance Auto Parts during the 1st quarter worth about $49,000. Exchange Traded Concepts LLC raised its position in shares of Advance Auto Parts by 1,258.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock worth $91,000 after acquiring an additional 2,140 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Advance Auto Parts by 69.8% during the first quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock worth $111,000 after buying an additional 1,168 shares during the period. Hedge funds and other institutional investors own 88.75% of the company's stock.

Advance Auto Parts Stock Performance

Shares of AAP traded up $3.96 during mid-day trading on Tuesday, hitting $57.49. The stock had a trading volume of 1,771,000 shares, compared to its average volume of 2,695,915. The company has a market cap of $3.45 billion, a PE ratio of -9.75 and a beta of 1.05. The company's fifty day simple moving average is $53.70 and its two-hundred day simple moving average is $43.94. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $70.00.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.81) by $0.59. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The business's revenue for the quarter was down 24.2% compared to the same quarter last year. On average, equities analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 1.7%. Advance Auto Parts's payout ratio is presently -17.04%.

Insiders Place Their Bets

In other news, SVP Jason Hand sold 948 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the sale, the senior vice president owned 9,876 shares of the company's stock, valued at approximately $479,183.52. The trade was a 8.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by insiders.

Analysts Set New Price Targets

AAP has been the topic of a number of recent research reports. Wall Street Zen lowered Advance Auto Parts from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. BMO Capital Markets restated a "market perform" rating and set a $50.00 target price (up from $40.00) on shares of Advance Auto Parts in a research report on Friday, May 23rd. Cowen reissued a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. Redburn Partners raised Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective on the stock in a research note on Tuesday, June 3rd. Finally, Raymond James Financial increased their price objective on Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research note on Monday, May 26th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $48.53.

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.