Advance Auto Parts Inc (AAP) Stake Boosted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its stake in Advance Auto Parts Inc (NYSE:AAP) by 22.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,914 shares of the company’s stock after buying an additional 4,650 shares during the period. Nisa Investment Advisors LLC’s holdings in Advance Auto Parts were worth $2,990,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC boosted its position in Advance Auto Parts by 98.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,574 shares of the company’s stock valued at $2,457,000 after buying an additional 8,224 shares during the last quarter. Patten & Patten Inc. TN acquired a new position in Advance Auto Parts during the first quarter valued at about $491,000. BKD Wealth Advisors LLC acquired a new position in Advance Auto Parts during the first quarter valued at about $299,000. Parametrica Management Ltd acquired a new position in Advance Auto Parts during the first quarter valued at about $250,000. Finally, Legacy Private Trust Co. boosted its position in Advance Auto Parts by 3.7% in the first quarter. Legacy Private Trust Co. now owns 5,215 shares of the company’s stock valued at $773,000 after buying an additional 185 shares during the last quarter.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by $0.60. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.94 billion. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $2.51 earnings per share.

TRADEMARK VIOLATION WARNING: This piece was originally reported by [[site]] and is owned by of [[site]]. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of US & international trademark and copyright law. The correct version of this piece can be read at [[permalink]].

Several research firms have issued reports on AAP. Zacks Investment Research cut Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Citigroup Inc. cut their price objective on Advance Auto Parts from $177.00 to $168.00 and set a “neutral” rating for the company in a research report on Tuesday, April 25th. UBS AG reiterated a “buy” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advance Auto Parts in a research report on Wednesday, May 17th. Gabelli upgraded Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Thursday, April 20th. Finally, Royal Bank Of Canada lowered their target price on Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating on the stock in a report on Tuesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $149.94.

In other Advance Auto Parts news, insider Thomas Greco purchased 16,000 shares of the stock in a transaction dated Friday, May 26th. The shares were acquired at an average price of $134.63 per share, for a total transaction of $2,154,080.00. Following the completion of the acquisition, the insider now owns 111,030 shares of the company’s stock, valued at approximately $14,947,968.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eugene I. Lee, Jr. purchased 1,895 shares of the stock in a transaction dated Friday, May 26th. The shares were acquired at an average price of $132.18 per share, for a total transaction of $250,481.10. Following the acquisition, the director now directly owns 4,398 shares of the company’s stock, valued at approximately $581,327.64. The disclosure for this purchase can be found here. Insiders have bought 369,462 shares of company stock worth $49,617,073 over the last ninety days. 4.50% of the stock is owned by insiders.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.