Tyers Asset Management LLC reduced its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 42.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,400 shares of the company’s stock after selling 6,240 shares during the quarter. Tyers Asset Management LLC’s holdings in Advance Auto Parts were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Berman Capital Advisors LLC lifted its holdings in Advance Auto Parts by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $33,000 after purchasing an additional 140 shares during the last quarter. Citizens Financial Group Inc RI raised its position in shares of Advance Auto Parts by 466.7% in the second quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock valued at $34,000 after purchasing an additional 182 shares during the period. Nelson Roberts Investment Advisors LLC bought a new position in shares of Advance Auto Parts in the first quarter valued at about $40,000. Avestar Capital LLC raised its position in shares of Advance Auto Parts by 625.0% in the second quarter. Avestar Capital LLC now owns 406 shares of the company’s stock valued at $42,000 after purchasing an additional 350 shares during the period. Finally, Amica Retiree Medical Trust acquired a new stake in shares of Advance Auto Parts during the 2nd quarter worth about $49,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE AAP traded up $3.53 during midday trading on Wednesday, reaching $158.23. The company’s stock had a trading volume of 53,815 shares, compared to its average volume of 1,391,967. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.36 and a current ratio of 1.36. Advance Auto Parts, Inc. has a fifty-two week low of $130.09 and a fifty-two week high of $186.15. The business’s 50 day moving average price is $143.30 and its two-hundred day moving average price is $156.91. The company has a market cap of $10.52 billion, a P/E ratio of 22.07, a P/E/G ratio of 1.60 and a beta of 0.85.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.22). The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.36 billion. Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.97 EPS. Sell-side analysts forecast that Advance Auto Parts, Inc. will post 7.98 earnings per share for the current fiscal year.
Several analysts recently commented on AAP shares. JPMorgan Chase & Co. set a $222.00 target price on shares of Advance Auto Parts and gave the stock a “buy” rating in a report on Monday, August 12th. Guggenheim cut shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a report on Wednesday, August 14th. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a research report on Wednesday, July 31st. Wells Fargo & Co restated a “hold” rating and set a $175.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, May 22nd. Finally, Credit Suisse Group reduced their price objective on Advance Auto Parts from $195.00 to $162.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Advance Auto Parts presently has an average rating of “Buy” and a consensus price target of $183.38.
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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