PNC Financial Services Group Inc. grew its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Free Report) by 119.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,789 shares of the company’s stock after purchasing an additional 8,052 shares during the period. PNC Financial Services Group Inc.’s holdings in Advance Auto Parts were worth $827,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in AAP. Covestor Ltd grew its stake in shares of Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after buying an additional 83 shares in the last quarter. Clear Street Markets LLC grew its stake in shares of Advance Auto Parts by 245.9% in the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. Industrial Alliance Investment Management Inc. grew its stake in shares of Advance Auto Parts by 469.4% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 353 shares of the company’s stock valued at $52,000 after buying an additional 291 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Advance Auto Parts in the 2nd quarter valued at approximately $28,000. Finally, Natixis bought a new stake in Advance Auto Parts during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 88.75% of the company’s stock.
Advance Auto Parts Stock Performance
Shares of NYSE AAP opened at $60.34 on Tuesday. The business has a fifty day simple moving average of $63.17 and a 200 day simple moving average of $59.72. The company has a current ratio of 1.23, a quick ratio of 0.27 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.16 and a beta of 1.15. Advance Auto Parts, Inc. has a one year low of $47.73 and a one year high of $149.17.
Analysts Set New Price Targets
AAP has been the subject of a number of recent analyst reports. Wedbush decreased their target price on Advance Auto Parts from $80.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. UBS Group decreased their target price on Advance Auto Parts from $75.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. TheStreet raised Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. JPMorgan Chase & Co. decreased their target price on Advance Auto Parts from $78.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. Finally, The Goldman Sachs Group decreased their target price on Advance Auto Parts from $83.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and a consensus price target of $72.41.
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Insider Activity at Advance Auto Parts
In related news, EVP Kristen L. Soler acquired 1,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was purchased at an average cost of $52.87 per share, for a total transaction of $52,870.00. Following the completion of the purchase, the executive vice president now directly owns 12,197 shares of the company’s stock, valued at approximately $644,855.39. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Kristen L. Soler acquired 500 shares of the company’s stock in a transaction on Friday, December 8th. The stock was purchased at an average cost of $55.60 per share, for a total transaction of $27,800.00. Following the completion of the purchase, the executive vice president now directly owns 12,697 shares of the company’s stock, valued at approximately $705,953.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kristen L. Soler acquired 1,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were bought at an average price of $52.87 per share, with a total value of $52,870.00. Following the completion of the purchase, the executive vice president now directly owns 12,197 shares of the company’s stock, valued at $644,855.39. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by corporate insiders.
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.
See Also
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Source: americanbankingnews.com
