Rice Hall James & Associates LLC reduced its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 15.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,539 shares of the company’s stock after selling 10,399 shares during the quarter. Rice Hall James & Associates LLC owned 0.08% of Advance Auto Parts worth $8,561,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Amica Retiree Medical Trust purchased a new position in Advance Auto Parts in the 2nd quarter valued at about $49,000. DekaBank Deutsche Girozentrale raised its holdings in Advance Auto Parts by 102.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 20,661 shares of the company’s stock valued at $3,188,000 after acquiring an additional 10,442 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Advance Auto Parts in the 2nd quarter valued at about $42,790,000. Advisory Services Network LLC raised its holdings in Advance Auto Parts by 2,252.4% in the 2nd quarter. Advisory Services Network LLC now owns 988 shares of the company’s stock valued at $152,000 after acquiring an additional 946 shares during the last quarter. Finally, Amica Mutual Insurance Co. acquired a new stake in Advance Auto Parts in the 2nd quarter valued at about $311,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE AAP traded up $0.13 during midday trading on Thursday, reaching $136.62. 869,664 shares of the stock were exchanged, compared to its average volume of 1,179,133. The firm has a 50 day moving average of $152.93. The stock has a market cap of $10.19 billion, a PE ratio of 19.16, a P/E/G ratio of 1.50 and a beta of 0.87. The company has a quick ratio of 0.31, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. Advance Auto Parts, Inc. has a twelve month low of $130.09 and a twelve month high of $186.15.
AAP has been the subject of a number of recent research reports. UBS Group cut their price objective on shares of Advance Auto Parts from $205.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Co reiterated a “hold” rating and issued a $175.00 price objective on shares of Advance Auto Parts in a report on Wednesday, May 22nd. Morgan Stanley cut their price objective on shares of Advance Auto Parts from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday. Northcoast Research reiterated a “neutral” rating on shares of Advance Auto Parts in a report on Thursday, June 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $200.00 price objective on shares of Advance Auto Parts in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $181.28.
Advance Auto Parts Company Profile
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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