Tairen Capital Ltd Has $10.21 Million Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Tairen Capital Ltd lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 415.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,851 shares of the company's stock after purchasing an additional 174,000 shares during the quarter. Advance Auto Parts accounts for 1.5% of Tairen Capital Ltd's investment portfolio, making the stock its 20th largest holding. Tairen Capital Ltd owned 0.36% of Advance Auto Parts worth $10,208,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AAP. Allworth Financial LP raised its position in shares of Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after purchasing an additional 818 shares during the period. Vision Financial Markets LLC purchased a new stake in Advance Auto Parts in the 4th quarter valued at $42,000. Advisory Services Network LLC bought a new position in Advance Auto Parts during the 4th quarter valued at $46,000. Blue Trust Inc. lifted its stake in Advance Auto Parts by 38.9% during the 4th quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock valued at $79,000 after acquiring an additional 469 shares in the last quarter. Finally, KBC Group NV lifted its stake in Advance Auto Parts by 51.6% during the 4th quarter. KBC Group NV now owns 2,651 shares of the company's stock valued at $125,000 after acquiring an additional 902 shares in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on AAP shares. Citigroup dropped their price objective on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Evercore ISI dropped their price objective on 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. 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 research note on Thursday, February 27th. Truist Financial dropped their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, Wedbush restated an "outperform" rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $45.13.

Advance Auto Parts Trading Up 1.7%

Shares of AAP opened at $34.99 on Friday. The business has a 50-day moving average of $34.44 and a 200 day moving average of $40.30. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $74.59. The firm has a market cap of $2.09 billion, a P/E ratio of 47.93, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Insiders Place Their Bets

In related news, CEO Shane M. Okelly bought 1,500 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the purchase, the chief executive officer now directly owns 183,121 shares in the company, valued at $6,737,021.59. This trade represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the business's stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $34.15 per share, with a total value of $499,956.00. Following the purchase, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents a 75.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is owned by corporate insiders.

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.

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