Versor Investments LP Acquires Shares of 20,029 Advance Auto Parts, Inc. (NYSE:AAP)

Versor Investments LP bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,029 shares of the company’s stock, valued at approximately $781,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Third Point LLC acquired a new stake in Advance Auto Parts in the first quarter worth about $127,234,000. Dorsal Capital Management LP boosted its stake in shares of Advance Auto Parts by 159.7% in the 2nd quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock valued at $79,162,000 after purchasing an additional 768,664 shares during the last quarter. Capital World Investors grew its position in shares of Advance Auto Parts by 67.0% during the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after buying an additional 615,674 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Advance Auto Parts by 76.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after buying an additional 547,696 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Advance Auto Parts in the third quarter valued at approximately $17,477,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Down 1.6 %

Shares of AAP stock opened at $39.91 on Wednesday. The firm’s fifty day moving average price is $39.08 and its two-hundred day moving average price is $54.82. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 1 year low of $35.59 and a 1 year high of $88.56. The firm has a market capitalization of $2.38 billion, a P/E ratio of 3,990.50, a PEG ratio of 1.24 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the firm posted $1.43 EPS. Advance Auto Parts’s revenue was down .1% compared to the same quarter last year. On average, equities analysts predict that Advance Auto Parts, Inc. will post 2.19 EPS for the current fiscal year.

Analyst Ratings Changes

AAP has been the subject of several recent research reports. Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 target price for the company in a research report on Tuesday, October 15th. Roth Mkm reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a research note on Wednesday, October 16th. TD Cowen reduced their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, Truist Financial decreased their target price on Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $54.08.

Advance Auto Parts Company 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.