Bailard Inc. Buys 420 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Bailard Inc. lifted its stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 32.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,698 shares of the company’s stock after acquiring an additional 420 shares during the quarter. Bailard Inc.’s holdings in Advance Auto Parts were worth $407,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. L2 Asset Management LLC raised its stake in shares of Advance Auto Parts by 169.0% in the 4th quarter. L2 Asset Management LLC now owns 2,720 shares of the company’s stock valued at $652,000 after acquiring an additional 1,709 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Advance Auto Parts by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,883,817 shares of the company’s stock valued at $451,890,000 after acquiring an additional 53,418 shares in the last quarter. Confluence Wealth Services Inc. acquired a new stake in Advance Auto Parts in the 4th quarter valued at approximately $115,000. Capital Fund Management S.A. grew its holdings in Advance Auto Parts by 5,553.7% in the 4th quarter. Capital Fund Management S.A. now owns 16,961 shares of the company’s stock valued at $4,069,000 after buying an additional 16,661 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Advance Auto Parts by 132.4% in the 4th quarter. Panagora Asset Management Inc. now owns 56,048 shares of the company’s stock valued at $13,445,000 after buying an additional 31,929 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of AAP opened at $213.69 on Tuesday. The stock has a fifty day moving average price of $211.68 and a two-hundred day moving average price of $222.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 1.21. Advance Auto Parts, Inc. has a 52-week low of $187.16 and a 52-week high of $244.55. The company has a market cap of $13.05 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.21 and a beta of 1.22.

Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings data on Monday, February 14th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.10. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the company posted $1.87 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Advance Auto Parts, Inc. will post 13.74 EPS for the current fiscal year.

A number of analysts have issued reports on the company. Citigroup lowered their target price on Advance Auto Parts from $294.00 to $250.00 in a report on Friday. Morgan Stanley lifted their price objective on Advance Auto Parts from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 16th. Royal Bank of Canada assumed coverage on Advance Auto Parts in a report on Thursday, January 27th. They set a “sector perform” rating and a $239.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Advance Auto Parts from $276.00 to $280.00 in a report on Friday, February 11th. Finally, Wells Fargo & Company decreased their price objective on Advance Auto Parts from $245.00 to $230.00 in a report on Monday. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Buy” and a consensus target price of $254.81.

Advance Auto Parts Profile (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.

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