Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 3.2{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,183 shares of the company’s stock after selling 2,148 shares during the quarter. New York State Common Retirement Fund owned 0.11{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} of Advance Auto Parts worth $10,191,000 as of its most recent SEC filing.

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Several other hedge funds have also recently modified their holdings of the stock. Empirical Finance LLC lifted its holdings in shares of Advance Auto Parts by 5.2{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. Empirical Finance LLC now owns 1,345 shares of the company’s stock worth $233,000 after purchasing an additional 66 shares during the period. Assetmark Inc. lifted its holdings in Advance Auto Parts by 3.8{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the third quarter. Assetmark Inc. now owns 1,835 shares of the company’s stock valued at $287,000 after acquiring an additional 68 shares during the period. Mackenzie Financial Corp lifted its holdings in Advance Auto Parts by 1.5{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the third quarter. Mackenzie Financial Corp now owns 5,110 shares of the company’s stock valued at $799,000 after acquiring an additional 77 shares during the period. Harbor Investment Advisory LLC lifted its holdings in Advance Auto Parts by 9.1{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the third quarter. Harbor Investment Advisory LLC now owns 944 shares of the company’s stock valued at $148,000 after acquiring an additional 79 shares during the period. Finally, Covestor Ltd lifted its holdings in Advance Auto Parts by 113.7{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after acquiring an additional 83 shares during the period. 96.04{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Up 2.1 {49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}

AAP opened at $151.91 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.23. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.01 and a beta of 1.11. The business has a 50-day moving average of $148.12 and a two-hundred day moving average of $166.30. Advance Auto Parts, Inc. has a 12 month low of $138.52 and a 12 month high of $231.43.

Advance Auto Parts (NYSE:AAP – Get Rating) last posted its quarterly earnings results on Tuesday, November 15th. The company reported $2.84 EPS for the quarter, missing the consensus estimate of $3.32 by ($0.48). The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Advance Auto Parts had a net margin of 4.30{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} and a return on equity of 25.97{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}. On average, research analysts expect that Advance Auto Parts, Inc. will post 12.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on AAP. Barclays began coverage on Advance Auto Parts in a report on Tuesday. They issued an “underweight” rating and a $145.00 target price for the company. The Goldman Sachs Group reduced their target price on Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating for the company in a report on Thursday, November 17th. Wells Fargo & Company cut their price target on Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating for the company in a research note on Thursday, January 5th. Citigroup cut their price target on Advance Auto Parts from $161.00 to $159.00 and set a “neutral” rating for the company in a research note on Friday, January 27th. Finally, Guggenheim downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Thursday, November 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $180.47.

About Advance Auto Parts

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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: 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.