Teza Capital Management LLC Cuts Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Teza Capital Management LLC trimmed its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 65.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,690 shares of the company’s stock after selling 10,713 shares during the quarter. Teza Capital Management LLC’s holdings in Advance Auto Parts were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAP. CIBC Asset Management Inc raised its position in Advance Auto Parts by 3.9% during the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock worth $277,000 after acquiring an additional 221 shares during the period. Yousif Capital Management LLC raised its position in shares of Advance Auto Parts by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock worth $1,242,000 after purchasing an additional 281 shares during the last quarter. Ingalls & Snyder LLC lifted its stake in Advance Auto Parts by 5.0% in the 4th quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock valued at $316,000 after buying an additional 317 shares in the last quarter. Studio Investment Management LLC boosted its holdings in Advance Auto Parts by 6.7% in the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company’s stock worth $263,000 after buying an additional 350 shares during the last quarter. Finally, Blue Trust Inc. increased 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 worth $79,000 after buying an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets lowered their price target on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Wells Fargo & Company dropped their target price on shares of Advance Auto Parts from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday. Royal Bank of Canada reduced their target price on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup decreased their price target on shares of 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. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $44.50.

Insider Activity

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the purchase, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Shane M. Okelly purchased 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $34.13 on Wednesday. The company’s 50-day moving average is $34.30 and its two-hundred day moving average is $40.28. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $73.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 46.75, a PEG ratio of 1.98 and a beta of 0.93.

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.