Systematic Financial Management LP Decreases Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Systematic Financial Management LP reduced its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 88.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201 shares of the company’s stock after selling 1,500 shares during the quarter. Systematic Financial Management LP’s holdings in Advance Auto Parts were worth $31,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAP. PGGM Investments purchased a new position in shares of Advance Auto Parts in the second quarter valued at $3,854,000. Creative Planning boosted its stake in shares of Advance Auto Parts by 35.9% in the second quarter. Creative Planning now owns 3,903 shares of the company’s stock valued at $602,000 after purchasing an additional 1,032 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Advance Auto Parts in the second quarter valued at $61,000. Cambiar Investors LLC boosted its stake in shares of Advance Auto Parts by 1.4% in the second quarter. Cambiar Investors LLC now owns 27,756 shares of the company’s stock valued at $4,278,000 after purchasing an additional 374 shares during the period. Finally, Strs Ohio boosted its stake in shares of Advance Auto Parts by 4.5% in the second quarter. Strs Ohio now owns 15,684 shares of the company’s stock valued at $2,417,000 after purchasing an additional 673 shares during the period. Institutional investors own 99.11% of the company’s stock.

AAP has been the subject of several analyst reports. Credit Suisse Group restated an “outperform” rating and issued a $162.00 target price (down from $195.00) on shares of Advance Auto Parts in a research note on Wednesday. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a research note on Wednesday, July 31st. Citigroup reaffirmed a “hold” rating and issued a $156.00 price target on shares of Advance Auto Parts in a report on Wednesday. Northcoast Research reaffirmed a “neutral” rating on shares of Advance Auto Parts in a report on Thursday, June 27th. Finally, Evercore ISI reaffirmed a “buy” rating on shares of Advance Auto Parts in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $184.89.

AAP opened at $142.23 on Wednesday. The firm has a market capitalization of $10.35 billion, a PE ratio of 19.95, a PEG ratio of 1.52 and a beta of 0.87. The company has a fifty day moving average of $153.32. 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 12-month low of $130.09 and a 12-month high of $186.15.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.22). The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.36 billion. Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $1.97 earnings per share. On average, sell-side analysts predict that Advance Auto Parts, Inc. will post 8.19 earnings per share for the current year.

About Advance Auto Parts

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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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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