Easterly Investment Partners LLC Acquires 10,709 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Easterly Investment Partners LLC raised its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 32.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,951 shares of the company’s stock after acquiring an additional 10,709 shares during the quarter. Easterly Investment Partners LLC’s holdings in Advance Auto Parts were worth $1,714,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AAP. Diversified Trust Co boosted its holdings in Advance Auto Parts by 3.5% in the second quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock worth $430,000 after purchasing an additional 232 shares in the last quarter. OLD National Bancorp IN lifted its stake in shares of Advance Auto Parts by 6.8% in the second quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after buying an additional 237 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Advance Auto Parts by 8.5% during the 1st quarter. Covestor Ltd now owns 3,395 shares of the company’s stock worth $289,000 after buying an additional 266 shares during the period. Sei Investments Co. grew its stake in Advance Auto Parts by 0.5% in the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock valued at $3,779,000 after buying an additional 277 shares during the last quarter. Finally, Qsemble Capital Management LP raised its holdings in Advance Auto Parts by 7.6% in the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock worth $256,000 after acquiring an additional 285 shares during the period. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $37.90 on Friday. The business’s fifty day moving average is $39.25 and its two-hundred day moving average is $55.62. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The firm has a market cap of $2.26 billion, a P/E ratio of 3,790.00, a P/E/G ratio of 1.22 and a beta of 1.17. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. Advance Auto Parts’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts forecast that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AAP shares. Wells Fargo & Company lowered their price target on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price target on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. Finally, Roth Mkm restated a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $55.54.

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.