Summit Trail Advisors LLC Makes New $305,000 Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Summit Trail Advisors LLC purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,440 shares of the company’s stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AAP. Stephens Inc. AR increased its holdings in Advance Auto Parts by 30.2% during the 4th quarter. Stephens Inc. AR now owns 36,069 shares of the company’s stock valued at $1,706,000 after acquiring an additional 8,365 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Advance Auto Parts during the 4th quarter worth approximately $244,000. Empowered Funds LLC acquired a new position in shares of Advance Auto Parts during the 4th quarter worth approximately $8,947,000. Stratos Wealth Partners LTD. lifted its stake in Advance Auto Parts by 6.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,223 shares of the company’s stock valued at $436,000 after buying an additional 596 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in Advance Auto Parts by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock valued at $1,242,000 after buying an additional 281 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Insider Activity

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares in the company, valued at $1,069,159.96. The trade was a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

AAP has been the subject of a number of analyst reports. Barclays cut their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. Truist Financial cut their target price on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, November 15th. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. 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. Finally, Evercore ISI raised their target price on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. 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 data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus target price of $47.93.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $47.49 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. Advance Auto Parts, Inc. has a 1-year low of $35.59 and a 1-year high of $88.56. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 65.06, a PEG ratio of 2.23 and a beta of 1.15. The business has a 50-day moving average of $46.12 and a 200-day moving average of $45.05.

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