Ieq Capital LLC Invests $910,000 in Advance Auto Parts, Inc. (NYSE:AAP)

Ieq Capital LLC purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,238 shares of the company’s stock, valued at approximately $910,000.

Several other large investors have also recently added to or reduced their stakes in AAP. Versant Capital Management Inc lifted its stake in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after purchasing an additional 365 shares during the last quarter. Allworth Financial LP lifted its stake in Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after purchasing an additional 818 shares during the last quarter. Blue Trust Inc. lifted its stake in Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares during the last quarter. KBC Group NV lifted its stake in Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after buying an additional 394 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after buying an additional 1,047 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AAP shares. Truist Financial cut their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Evercore ISI raised their target price on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. BMO Capital Markets began coverage on Advance Auto Parts in a research note on Friday, December 13th. They issued a “market perform” rating and a $45.00 target price on the stock. The Goldman Sachs Group cut their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus target price of $47.88.

Advance Auto Parts Trading Up 7.3 %

Shares of AAP opened at $45.93 on Wednesday. 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, Inc. has a 1-year low of $35.59 and a 1-year high of $88.56. The business’s 50-day moving average price is $46.22 and its 200 day moving average price is $43.98. The stock has a market capitalization of $2.74 billion, a P/E ratio of 62.92, a P/E/G ratio of 1.98 and a beta of 1.15.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.35% of the company’s stock.

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.