King Street Capital Management L.P. acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,300 shares of the company’s stock, valued at approximately $2,231,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Life Planning Partners Inc bought a new stake in shares of Advance Auto Parts in the 4th quarter valued at $30,000. Huntington National Bank lifted its holdings in shares of Advance Auto Parts by 116.8% in the fourth quarter. Huntington National Bank now owns 219 shares of the company’s stock valued at $53,000 after purchasing an additional 118 shares in the last quarter. Liberty Wealth Management LLC grew its stake in shares of Advance Auto Parts by 120.0% during the 3rd quarter. Liberty Wealth Management LLC now owns 286 shares of the company’s stock worth $63,000 after acquiring an additional 156 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Advance Auto Parts by 30.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 309 shares of the company’s stock worth $74,000 after acquiring an additional 73 shares in the last quarter. Finally, Confluence Wealth Services Inc. bought a new stake in Advance Auto Parts during the 4th quarter worth about $115,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.
AAP has been the subject of a number of research reports. UBS Group cut their target price on shares of Advance Auto Parts to $250.00 in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Advance Auto Parts from $276.00 to $280.00 in a research report on Friday, February 11th. Wells Fargo & Company reduced their price objective on shares of Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday. Evercore ISI assumed coverage on Advance Auto Parts in a research report on Tuesday, February 15th. They set a “buy” rating and a $275.00 price target for the company. Finally, Truist Financial decreased their price objective on shares of Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $243.11.
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.02). The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.39 billion. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.34 earnings per share. Equities analysts forecast that Advance Auto Parts, Inc. will post 13.75 earnings per share for the current year.
About Advance Auto Parts (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Advance Auto Parts (AAP)
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