Advance Auto Parts, Inc. (AAP) Holdings Lifted by Bp Plc

Bp Plc grew its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 200.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,500 shares of the company’s stock after purchasing an additional 19,000 shares during the quarter. Bp Plc’s holdings in Advance Auto Parts were worth $4,796,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new position in shares of Advance Auto Parts during the 2nd quarter worth $116,000. Tower Research Capital LLC TRC purchased a new position in shares of Advance Auto Parts during the 2nd quarter worth $117,000. Federated Investors Inc. PA purchased a new position in shares of Advance Auto Parts during the 2nd quarter worth $124,000. First Mercantile Trust Co. purchased a new position in shares of Advance Auto Parts during the 2nd quarter worth $162,000. Finally, Signaturefd LLC lifted its stake in shares of Advance Auto Parts by 362.8% during the 2nd quarter. Signaturefd LLC now owns 1,305 shares of the company’s stock worth $177,000 after purchasing an additional 1,023 shares during the period.

Shares of NYSE AAP opened at $165.11 on Tuesday. Advance Auto Parts, Inc. has a 12-month low of $78.81 and a 12-month high of $171.50. The firm has a market capitalization of $12.22 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.63 and a quick ratio of 0.48.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, August 14th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.11. Advance Auto Parts had a return on equity of 13.43% and a net margin of 5.68%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the firm earned $1.48 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Advance Auto Parts, Inc. will post 6.97 earnings per share for the current year.

Advance Auto Parts announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 14th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the company to purchase up to 5.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts have weighed in on the company. Wedbush increased their price target on Advance Auto Parts from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, October 26th. Wells Fargo & Co reissued a “hold” rating on shares of Advance Auto Parts in a research note on Tuesday, October 16th. Morgan Stanley increased their price target on Advance Auto Parts from $170.00 to $195.00 and gave the stock an “overweight” rating in a research note on Thursday, October 11th. Argus increased their price target on Advance Auto Parts from $155.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. They noted that the move was a valuation call. Finally, Bank of America raised Advance Auto Parts from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $123.00 to $177.00 in a research report on Monday, September 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $154.56.

In related news, Director Nigel Travis purchased 1,250 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was purchased at an average cost of $159.70 per share, for a total transaction of $199,625.00. Following the acquisition, the director now owns 1,250 shares in the company, valued at $199,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

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Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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