Hsbc Holdings PLC Purchases Shares of 8,620 Advance Auto Parts, Inc. (NYSE:AAP)

Hsbc Holdings PLC purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,620 shares of the company's stock, valued at approximately $407,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company's stock worth $26,000 after acquiring an additional 365 shares during the last quarter. Allworth Financial LP boosted its holdings in 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 last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts in the fourth quarter valued at $42,000. Advisory Services Network LLC acquired a new stake in Advance Auto Parts in the 4th quarter valued at $46,000. Finally, GAMMA Investing LLC increased its position in shares of Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock valued at $74,000 after acquiring an additional 1,047 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Evercore ISI cut their price target on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Wedbush reissued an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. Truist Financial decreased their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada decreased their price target on shares of 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. Finally, BMO Capital Markets dropped their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Advance Auto Parts presently has an average rating of "Hold" and a consensus target price of $45.13.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock traded up $0.26 during trading on Tuesday, reaching $33.64. 349,407 shares of the company's stock were exchanged, compared to its average volume of 2,257,855. The firm's 50-day moving average price is $34.59 and its 200 day moving average price is $40.40. The company has a market cap of $2.01 billion, a P/E ratio of 46.08, a PEG 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. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $77.49.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the company's stock in a transaction that occurred 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 acquisition, the chief executive officer now directly owns 183,121 shares in the company, valued at $6,737,021.59. This represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the acquisition, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. The trade was a 75.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company's stock.

Advance Auto Parts Company 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.