Entropy Technologies LP Purchases Shares of 5,169 Advance Auto Parts, Inc. (NYSE:AAP)

Entropy Technologies LP acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,169 shares of the company’s stock, valued at approximately $244,000.

A number of other hedge funds have also modified their holdings of the stock. Pzena Investment Management LLC boosted its position in shares of Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after purchasing an additional 1,698,155 shares during the period. Royce & Associates LP increased its position in shares of Advance Auto Parts by 31.7% in the third quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock worth $41,937,000 after acquiring an additional 258,656 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Advance Auto Parts during the third quarter valued at approximately $17,477,000. Clearline Capital LP lifted its position in shares of Advance Auto Parts by 9.8% in the 3rd quarter. Clearline Capital LP now owns 445,244 shares of the company’s stock valued at $17,360,000 after acquiring an additional 39,699 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Advance Auto Parts in the 3rd quarter worth approximately $14,684,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by company insiders.

Advance Auto Parts Stock Performance

AAP opened at $48.44 on Friday. The company has a market cap of $2.89 billion, a PE ratio of 66.35, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. Advance Auto Parts, Inc. has a 52-week low of $35.59 and a 52-week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a 50-day moving average of $46.12 and a 200-day moving average of $45.05.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.82) EPS. As a group, equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on AAP shares. Evercore ISI boosted their target price on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. UBS Group upped their price target on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. The Goldman Sachs Group decreased their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.93.

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.