Ingalls & Snyder LLC Raises Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Ingalls & Snyder LLC lifted its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,680 shares of the company’s stock after buying an additional 317 shares during the period. Ingalls & Snyder LLC’s holdings in Advance Auto Parts were worth $316,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Pzena Investment Management LLC increased its stake in Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after purchasing an additional 1,698,155 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Advance Auto Parts in the 3rd quarter valued at approximately $17,477,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Advance Auto Parts in the 3rd quarter valued at approximately $14,684,000. Royce & Associates LP increased its stake in Advance Auto Parts by 31.7% in the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock valued at $41,937,000 after purchasing an additional 258,656 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. purchased a new position in Advance Auto Parts in the 3rd quarter valued at approximately $9,046,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares in the company, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AAP. Truist Financial dropped their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. DA Davidson reiterated a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Barclays lowered their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Finally, UBS Group increased their target price on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.93.

Advance Auto Parts Price Performance

AAP stock opened at $48.03 on Friday. Advance Auto Parts, Inc. has a 52-week low of $35.59 and a 52-week high of $88.56. The stock’s fifty day simple moving average is $46.27 and its 200-day simple moving average is $44.98. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 65.79, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. Advance Auto Parts’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

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.