Cibc World Markets Corp trimmed its stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 25.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,043 shares of the company’s stock after selling 3,810 shares during the period. Cibc World Markets Corp’s holdings in Advance Auto Parts were worth $1,726,000 at the end of the most recent quarter.
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A number of other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of Advance Auto Parts by 22.4% during the second quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock valued at $456,297,000 after buying an additional 482,858 shares during the last quarter. Vanguard Group Inc. boosted its stake in Advance Auto Parts by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock valued at $1,442,611,000 after acquiring an additional 261,715 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Advance Auto Parts by 202.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 390,826 shares of the company’s stock worth $80,885,000 after purchasing an additional 261,608 shares in the last quarter. Victory Capital Management Inc. grew its stake in Advance Auto Parts by 367.4% during the 3rd quarter. Victory Capital Management Inc. now owns 190,905 shares of the company’s stock worth $29,846,000 after buying an additional 150,058 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Advance Auto Parts by 3.6% during the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock valued at $685,801,000 after acquiring an additional 114,789 shares in the last quarter. Institutional investors own 96.04% of the company’s stock.
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Advance Auto Parts Stock Performance
NYSE:AAP opened at $142.01 on Friday. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 0.97 and a beta of 1.11. The company has a quick ratio of 0.23, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. Advance Auto Parts, Inc. has a 52 week low of $138.52 and a 52 week high of $231.43. The company has a fifty day simple moving average of $148.56 and a two-hundred day simple moving average of $163.33.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on AAP. DA Davidson dropped their price objective on shares of Advance Auto Parts from $200.00 to $170.00 in a report on Thursday, November 17th. Barclays assumed coverage on Advance Auto Parts in a research report on Tuesday, February 7th. They issued an “underweight” rating and a $145.00 target price on the stock. The Goldman Sachs Group decreased their price objective on shares of Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating for the company in a research note on Thursday, November 17th. Truist Financial cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating and reduced their target price for the stock from $228.00 to $147.00 in a report on Wednesday, November 16th. Finally, Guggenheim lowered Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Thursday, November 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus price target of $170.44.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
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