Tdam USA Inc. Acquires New Holdings in Advance Auto Parts, Inc. (AAP)

Tdam USA Inc. acquired a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,288 shares of the company’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Advance Auto Parts by 3.7% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,578 shares of the company’s stock valued at $2,928,000 after purchasing an additional 779 shares during the period. Putnam Investments LLC boosted its holdings in shares of Advance Auto Parts by 12.0% in the second quarter. Putnam Investments LLC now owns 181,457 shares of the company’s stock valued at $24,623,000 after buying an additional 19,492 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Advance Auto Parts by 12.0% in the second quarter. Wells Fargo & Company MN now owns 1,091,006 shares of the company’s stock valued at $148,049,000 after buying an additional 116,655 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Advance Auto Parts in the second quarter valued at approximately $116,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Advance Auto Parts by 3.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,065 shares of the company’s stock valued at $1,909,000 after buying an additional 532 shares during the period.

In other Advance Auto Parts news, Director Nigel Travis bought 1,250 shares of Advance Auto Parts stock in a transaction that occurred on Friday, August 17th. The stock was acquired at an average price of $159.70 per share, for a total transaction of $199,625.00. Following the completion of the acquisition, the director now owns 1,250 shares of the company’s stock, valued at approximately $199,625. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Several research analysts have recently weighed in on AAP shares. Royal Bank of Canada upped their price target on shares of Advance Auto Parts to $154.00 and gave the company an “outperform” rating in a report on Thursday, July 12th. Guggenheim set a $156.00 price target on shares of Advance Auto Parts and gave the company a “buy” rating in a report on Friday, July 13th. Stephens reiterated a “hold” rating and issued a $130.00 price target on shares of Advance Auto Parts in a report on Friday, July 13th. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $162.00 price target for the company in a report on Tuesday, July 24th. Finally, Wedbush reduced their price target on shares of Advance Auto Parts from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Advance Auto Parts currently has a consensus rating of “Buy” and a consensus target price of $155.11.

Shares of AAP opened at $168.09 on Wednesday. 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 cap of $12.22 billion, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 0.29.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 14th. The company reported $1.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.11. Advance Auto Parts had a net margin of 5.68% and a return on equity of 13.43%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Advance Auto Parts, Inc. will post 6.97 EPS for the current year.

Advance Auto Parts declared that its Board of Directors has approved a stock buyback program on Tuesday, August 14th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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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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