Edgestream Partners L.P. grew its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 1,301.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,444 shares of the company’s stock after buying an additional 73,777 shares during the quarter. Advance Auto Parts makes up about 1.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 18th biggest position. Edgestream Partners L.P. owned 0.11% of Advance Auto Parts worth $12,245,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the business. AJO LP lifted its holdings in Advance Auto Parts by 2.5% in the first quarter. AJO LP now owns 18,687 shares of the company’s stock valued at $3,187,000 after buying an additional 448 shares during the period. Eagle Asset Management Inc. lifted its holdings in Advance Auto Parts by 25.0% in the first quarter. Eagle Asset Management Inc. now owns 20,735 shares of the company’s stock valued at $3,535,000 after buying an additional 4,145 shares during the period. Manning & Napier Group LLC acquired a new position in Advance Auto Parts in the second quarter valued at approximately $27,472,000. Parametric Portfolio Associates LLC lifted its holdings in Advance Auto Parts by 0.7% in the first quarter. Parametric Portfolio Associates LLC now owns 212,221 shares of the company’s stock valued at $36,190,000 after buying an additional 1,426 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Advance Auto Parts in the second quarter valued at approximately $426,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the stock. Guggenheim lowered shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a report on Wednesday, August 14th. Goldman Sachs Group assumed coverage on shares of Advance Auto Parts in a report on Thursday, July 11th. They issued a “sell” rating and a $151.00 target price on the stock. Evercore ISI reiterated a “buy” rating on shares of Advance Auto Parts in a report on Tuesday, August 13th. William Blair reiterated an “outperform” rating on shares of Advance Auto Parts in a report on Wednesday, May 22nd. Finally, ValuEngine downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $185.38.
Shares of NYSE AAP traded up $1.11 during trading on Friday, hitting $156.31. The stock had a trading volume of 183,525 shares, compared to its average volume of 1,166,529. Advance Auto Parts, Inc. has a 12 month low of $130.09 and a 12 month high of $186.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.36 and a quick ratio of 0.36. The company has a market capitalization of $11.04 billion, a PE ratio of 21.92, a PEG ratio of 1.68 and a beta of 0.85. The firm has a fifty day moving average of $143.33 and a two-hundred day moving average of $156.89.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by ($0.22). The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.36 billion. Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.97 EPS. On average, equities analysts expect that Advance Auto Parts, Inc. will post 7.96 earnings per share for the current fiscal year.
The business also recently declared a dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 19th. Advance Auto Parts’s payout ratio is currently 3.37%.
About Advance Auto Parts
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.
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