Advance Auto Parts, Inc. (NYSE:AAP) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC boosted its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 212.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,357 shares of the company’s stock after buying an additional 21,320 shares during the period. Wolverine Asset Management LLC owned 0.05% of Advance Auto Parts worth $1,223,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Advance Auto Parts by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,998,910 shares of the company’s stock worth $340,268,000 after buying an additional 40,669 shares during the period. Capital World Investors increased its position in Advance Auto Parts by 67.0% in the first quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after buying an additional 615,674 shares during the period. Third Point LLC acquired a new stake in Advance Auto Parts in the first quarter worth $127,234,000. Dimensional Fund Advisors LP increased its position in Advance Auto Parts by 76.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after buying an additional 547,696 shares during the period. Finally, Dorsal Capital Management LP increased its position in Advance Auto Parts by 159.7% in the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock worth $79,162,000 after buying an additional 768,664 shares during the period. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Trading Down 1.6 %

NYSE:AAP opened at $39.91 on Wednesday. The stock has a fifty day simple moving average of $39.08 and a 200 day simple moving average of $54.82. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 3,990.50, a price-to-earnings-growth ratio of 1.24 and a beta of 1.17. Advance Auto Parts, Inc. has a 1-year low of $35.59 and a 1-year high of $88.56.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Roth Mkm reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday, October 16th. TD Cowen decreased their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. decreased their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Wells Fargo & Company decreased their price target on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, Evercore ISI decreased their price target on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.08.

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.