Aviva PLC Grows Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Aviva PLC lifted its stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,419 shares of the company’s stock after buying an additional 7,977 shares during the period. Aviva PLC owned approximately 0.20% of Advance Auto Parts worth $17,558,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Covestor Ltd increased its holdings in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after buying an additional 83 shares during the period. General Partner Inc. purchased a new position in shares of Advance Auto Parts in the fourth quarter worth about $44,000. Silvant Capital Management LLC purchased a new position in shares of Advance Auto Parts in the fourth quarter worth about $50,000. Seaport Global Advisors LLC increased its holdings in shares of Advance Auto Parts by 53.2% in the third quarter. Seaport Global Advisors LLC now owns 461 shares of the company’s stock worth $72,000 after buying an additional 160 shares during the period. Finally, Ronald Blue Trust Inc. increased its holdings in Advance Auto Parts by 256.7% during the 4th quarter. Ronald Blue Trust Inc. now owns 824 shares of the company’s stock valued at $129,000 after purchasing an additional 593 shares during the period. Hedge funds and other institutional investors own 96.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Raymond James reduced their price target on Advance Auto Parts from $180.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 19th. Roth Capital restated a “neutral” rating and set a $140.00 price target (down previously from $180.00) on shares of Advance Auto Parts in a report on Monday, February 13th. StockNews.com assumed coverage on Advance Auto Parts in a report on Thursday, May 18th. They set a “buy” rating on the stock. Barclays upgraded Advance Auto Parts from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $140.00 to $129.00 in a report on Friday, March 31st. Finally, Morgan Stanley cut their price objective on Advance Auto Parts from $165.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 1st. Twelve analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $155.41.

Advance Auto Parts Stock Performance

Shares of AAP opened at $111.62 on Friday. The company has a quick ratio of 0.21, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average price is $121.29 and its 200-day moving average price is $139.08. Advance Auto Parts, Inc. has a 52 week low of $109.05 and a 52 week high of $212.25. The stock has a market cap of $6.62 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.95 and a beta of 1.10.

Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.47. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Advance Auto Parts had a return on equity of 28.53% and a net margin of 4.50%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 EPS. Equities research analysts anticipate that Advance Auto Parts, Inc. will post 10.64 earnings per share for the current fiscal year.

Advance Auto Parts Profile

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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: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.