TD Asset Management Inc. cut its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,176 shares of the company’s stock after selling 378 shares during the quarter. TD Asset Management Inc.’s holdings in Advance Auto Parts were worth $3,264,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of AAP. Wedbush Securities Inc. grew its holdings in shares of Advance Auto Parts by 29.3% during the second quarter. Wedbush Securities Inc. now owns 3,338 shares of the company’s stock worth $515,000 after purchasing an additional 757 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Advance Auto Parts during the second quarter worth $8,991,000. Advisor Group Inc. grew its holdings in shares of Advance Auto Parts by 103.8% during the second quarter. Advisor Group Inc. now owns 5,924 shares of the company’s stock worth $914,000 after purchasing an additional 3,017 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of Advance Auto Parts during the second quarter worth $339,000. Finally, AGF Investments LLC grew its holdings in shares of Advance Auto Parts by 4.6% during the second quarter. AGF Investments LLC now owns 4,319 shares of the company’s stock worth $666,000 after purchasing an additional 188 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.
Several brokerages have recently commented on AAP. Wedbush restated an “outperform” rating and set a $200.00 target price on shares of Advance Auto Parts in a report on Thursday, July 11th. Credit Suisse Group decreased their price target on Advance Auto Parts from $195.00 to $162.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Morgan Stanley decreased their price target on Advance Auto Parts from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Northcoast Research reiterated a “neutral” rating on shares of Advance Auto Parts in a report on Thursday, June 27th. Finally, Citigroup reiterated a “hold” rating and issued a $156.00 price target (down previously from $182.00) on shares of Advance Auto Parts in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $183.38.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.00 EPS for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.22). The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.36 billion. Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 EPS. Sell-side analysts predict that Advance Auto Parts, Inc. will post 7.98 earnings per share for the current year.
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.
Featured Article: Call Option Volume
Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP).
Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.