19,238 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Acquired by Ieq Capital LLC

Ieq Capital LLC purchased a new position in Advance Auto Parts, Inc. (NYSE:AAP) during the 4th quarter, HoldingsChannel reports. The firm purchased 19,238 shares of the company’s stock, valued at approximately $910,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Truist Financial Corp increased its position in Advance Auto Parts by 30.4% in the 4th quarter. Truist Financial Corp now owns 15,961 shares of the company’s stock worth $755,000 after buying an additional 3,722 shares during the period. CIBC Asset Management Inc increased its position in Advance Auto Parts by 3.9% in the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock worth $277,000 after buying an additional 221 shares during the period. Principal Financial Group Inc. increased its position in Advance Auto Parts by 2.4% in the 4th quarter. Principal Financial Group Inc. now owns 287,732 shares of the company’s stock worth $13,607,000 after buying an additional 6,867 shares during the period. State of New Jersey Common Pension Fund D increased its position in Advance Auto Parts by 35.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 54,524 shares of the company’s stock worth $2,578,000 after buying an additional 14,134 shares during the period. Finally, Allworth Financial LP increased its position in shares of Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after purchasing an additional 818 shares during the period. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Trading Up 7.3 %

Shares of AAP opened at $45.93 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 12-month low of $35.59 and a 12-month high of $88.56. The firm has a market capitalization of $2.74 billion, a PE ratio of 62.92, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. The stock’s fifty day simple moving average is $46.22 and its 200-day simple moving average is $43.98.

Insider Activity

In other news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AAP. The Goldman Sachs Group lowered their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Evercore ISI boosted their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price target on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Finally, BMO Capital Markets began coverage on Advance Auto Parts in a research report on Friday, December 13th. They issued a “market perform” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.88.

About Advance Auto Parts

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.