Stephens Inc. AR boosted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Free Report) by 38.8% during the 4th quarter, HoldingsChannel reports. The fund owned 38,228 shares of the company’s stock after buying an additional 10,695 shares during the quarter. Stephens Inc. AR’s holdings in Advance Auto Parts were worth $1,502,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Advance Auto Parts during the third quarter valued at about $31,000. AlphaCore Capital LLC increased its stake in Advance Auto Parts by 6,288.9% during the third quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock valued at $35,000 after acquiring an additional 566 shares during the period. Atlantic Union Bankshares Corp bought a new position in Advance Auto Parts during the third quarter valued at about $52,000. Westfuller Advisors LLC bought a new position in Advance Auto Parts during the third quarter valued at about $56,000. Finally, Smartleaf Asset Management LLC increased its stake in Advance Auto Parts by 290.3% during the second quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock valued at $43,000 after acquiring an additional 688 shares during the period. 88.70% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on AAP shares. Weiss Ratings restated a “sell (d+)” rating on shares of Advance Auto Parts in a research note on Friday. DA Davidson set a $58.00 price target on Advance Auto Parts in a research note on Tuesday, February 17th. Wells Fargo & Company upped their price objective on Advance Auto Parts from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. UBS Group reiterated a “neutral” rating on shares of Advance Auto Parts in a research note on Monday, February 9th. Finally, Royal Bank Of Canada lowered their price objective on Advance Auto Parts from $63.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Advance Auto Parts has an average rating of “Reduce” and an average price target of $52.72.
Advance Auto Parts Trading Down 2.3%
Shares of Advance Auto Parts stock opened at $49.46 on Wednesday. The stock has a market capitalization of $2.98 billion, a P/E ratio of 67.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 1.55. The company has a 50-day simple moving average of $53.69 and a 200 day simple moving average of $50.29. Advance Auto Parts, Inc. has a 12-month low of $31.28 and a 12-month high of $70.00.
About Advance Auto Parts
Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.
The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.
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