Louisiana State Employees Retirement System increased its position in Advance Auto Parts Inc (NYSE:AAP) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 4,600 shares of the company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Advance Auto Parts were worth $536,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in AAP. Cleararc Capital Inc. boosted its position in Advance Auto Parts by 0.4% in the first quarter. Cleararc Capital Inc. now owns 1,802 shares of the company’s stock worth $267,000 after buying an additional 7 shares during the period. IFP Advisors Inc boosted its position in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares during the period. Strs Ohio boosted its position in Advance Auto Parts by 0.7% in the first quarter. Strs Ohio now owns 3,955 shares of the company’s stock worth $586,000 after buying an additional 28 shares during the period. Pacer Advisors Inc. boosted its position in Advance Auto Parts by 3.0% in the first quarter. Pacer Advisors Inc. now owns 1,517 shares of the company’s stock worth $225,000 after buying an additional 44 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Advance Auto Parts by 3.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,964 shares of the company’s stock worth $272,000 after buying an additional 61 shares during the period.
Advance Auto Parts Inc (NYSE:AAP) traded down 1.552% during midday trading on Thursday, reaching $107.485. The company’s stock had a trading volume of 567,963 shares. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 19.472 and a beta of 0.87. Advance Auto Parts Inc has a 12 month low of $99.13 and a 12 month high of $177.83. The stock’s 50-day moving average price is $109.35 and its 200-day moving average price is $138.49.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the business posted $2.51 earnings per share. Advance Auto Parts’s revenue was down 3.0% on a year-over-year basis. Analysts predict that Advance Auto Parts Inc will post $6.37 EPS for the current year.
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A number of research firms have recently weighed in on AAP. Barclays PLC reissued a “sell” rating and issued a $120.00 price target on shares of Advance Auto Parts in a report on Friday, May 26th. Royal Bank Of Canada cut their price target on Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating for the company in a report on Thursday, May 25th. UBS AG reissued a “buy” rating and issued a $180.00 price target (down from $200.00) on shares of Advance Auto Parts in a report on Wednesday, May 17th. Bank of America Corporation cut their price target on Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a report on Thursday, May 25th. Finally, Jefferies Group LLC boosted their price target on Advance Auto Parts to $150.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $149.06.
In other news, Director Adriana Karaboutis acquired 367 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was acquired at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the completion of the acquisition, the director now owns 3,043 shares in the company, valued at $411,657.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brad W. Buss acquired 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were purchased at an average price of $134.47 per share, with a total value of $161,364.00. Following the completion of the acquisition, the director now owns 1,928 shares of the company’s stock, valued at approximately $259,258.16. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 369,462 shares of company stock valued at $49,617,073. 4.50% of the stock is owned by corporate insiders.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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