Rafferty Asset Management LLC Has $431,000 Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Rafferty Asset Management LLC lessened its position in Advance Auto Parts, Inc. (NYSE:AAP) by 12.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,114 shares of the company’s stock after selling 1,237 shares during the period. Rafferty Asset Management LLC’s holdings in Advance Auto Parts were worth $431,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in AAP. Eminence Capital LP acquired a new stake in Advance Auto Parts in the fourth quarter valued at approximately $87,214,000. Price T Rowe Associates Inc. MD grew its stake in Advance Auto Parts by 34.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company’s stock valued at $316,160,000 after acquiring an additional 1,706,328 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in Advance Auto Parts in the fourth quarter valued at approximately $75,055,000. Marshall Wace LLP grew its stake in Advance Auto Parts by 2,585.1% in the fourth quarter. Marshall Wace LLP now owns 1,353,912 shares of the company’s stock valued at $64,026,000 after acquiring an additional 1,303,488 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in Advance Auto Parts by 2,662.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company’s stock valued at $61,156,000 after acquiring an additional 1,246,384 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.

Insider Buying and Selling

In other Advance Auto Parts news, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the transaction, the chief executive officer now directly owns 183,121 shares in the company, valued at $6,737,021.59. This represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares of the company’s stock, valued at $1,163,490.50. This represents a 75.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock opened at $49.41 on Friday. The business’s fifty day simple moving average is $34.41 and its 200 day simple moving average is $40.30. The firm has a market capitalization of $2.96 billion, a P/E ratio of 67.69, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $71.62. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.55. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. Advance Auto Parts’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. As a group, analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AAP shares. Royal Bank of Canada reduced their price objective on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. BMO Capital Markets cut their target price on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Citigroup cut their target price on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Advance Auto Parts in a research report on Monday, March 3rd. Finally, Truist Financial cut their target price on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus price target of $44.50.

Advance Auto Parts 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.