UBS Group AG Boosts Position in Advance Auto Parts, Inc. (NYSE:AAP)

UBS Group AG raised its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 337.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 811,734 shares of the company’s stock after purchasing an additional 626,294 shares during the quarter. UBS Group AG’s holdings in Advance Auto Parts were worth $49,540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAP. Allworth Financial LP grew its position in shares of Advance Auto Parts by 190.0% during the fourth quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares in the last quarter. Principal Securities Inc. bought a new stake in Advance Auto Parts during the 4th quarter valued at $27,000. Larson Financial Group LLC increased its holdings in shares of Advance Auto Parts by 264.6% in the 3rd quarter. Larson Financial Group LLC now owns 689 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Advance Auto Parts by 594.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 840 shares of the company’s stock valued at $47,000 after acquiring an additional 719 shares during the period. Finally, GAMMA Investing LLC purchased a new position in Advance Auto Parts during the 4th quarter worth $63,000. Institutional investors own 88.75% of the company’s stock.

Insider Activity

In other Advance Auto Parts news, Director Brent Windom bought 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was purchased at an average cost of $85.34 per share, with a total value of $401,098.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $853,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Advance Auto Parts news, Director Brent Windom purchased 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were bought at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $853,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carla Jean Bailo acquired 310 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was purchased at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the acquisition, the director now directly owns 5,789 shares in the company, valued at approximately $470,008.91. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Advance Auto Parts Price Performance

Advance Auto Parts stock traded up $0.15 during midday trading on Friday, reaching $69.57. 1,246,992 shares of the stock were exchanged, compared to its average volume of 1,151,992. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. Advance Auto Parts, Inc. has a 52 week low of $47.73 and a 52 week high of $114.57. The firm has a market cap of $4.15 billion, a PE ratio of 94.01, a PEG ratio of 1.26 and a beta of 1.20. The company’s fifty day moving average is $77.32 and its 200-day moving average is $67.43.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.83). The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.88 earnings per share. On average, sell-side analysts forecast that Advance Auto Parts, Inc. will post 3.94 EPS for the current year.

Analysts Set New Price Targets

AAP has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Barclays raised their target price on Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Truist Financial lifted their target price on Advance Auto Parts from $60.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. StockNews.com downgraded Advance Auto Parts from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Finally, JPMorgan Chase & Co. boosted their target price on Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to data from MarketBeat, Advance Auto Parts has a consensus rating of “Hold” and an average price target of $65.19.

About Advance Auto Parts

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.