Advance Auto Parts Inc (NYSE:AAP) reached a new 52-week low during trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $85.16 and last traded at $85.28, with a volume of 11,692,334 shares changing hands. The stock had previously closed at $109.32.

The company reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business earned $1.90 earnings per share.

Several research analysts have recently commented on the stock. Barclays PLC reaffirmed a “sell” rating and set a $120.00 target price on shares of Advance Auto Parts in a report on Friday, May 26th. Royal Bank Of Canada lowered their target price on shares of Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating on the stock in a report on Thursday, May 25th. UBS AG reaffirmed a “buy” rating and set a $180.00 target price (down from $200.00) on shares of Advance Auto Parts in a report on Wednesday, May 17th. Bank of America Corporation lowered their target price on shares of Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating on the stock in a report on Thursday, May 25th. Finally, Jefferies Group LLC raised their target price on shares of Advance Auto Parts to $150.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts currently has a consensus rating of “Hold” and a consensus price target of $149.06.

In related news, Director Jeffrey C. Smith bought 350,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $134.29 per share, with a total value of $47,001,500.00. Following the completion of the purchase, the director now owns 1,273 shares in the company, valued at approximately $170,951.17. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Adriana Karaboutis bought 367 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were bought at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the purchase, the director now owns 3,043 shares of the company’s stock, valued at approximately $411,657.04. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 369,462 shares of company stock worth $49,617,073. Insiders own 4.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares during the last quarter. Van ECK Associates Corp boosted its stake in Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after buying an additional 67 shares during the last quarter. Global X Management Co. LLC boosted its stake in Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock worth $144,000 after buying an additional 218 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in Advance Auto Parts during the first quarter worth $148,000. Finally, Tobam bought a new stake in Advance Auto Parts during the second quarter worth $118,000.

The company has a market cap of $6.32 billion, a PE ratio of 15.51 and a beta of 0.87. The firm has a 50 day moving average price of $108.27 and a 200-day moving average price of $136.98. Advance Auto Parts also saw some unusual options trading activity on Monday. Stock traders bought 13,082 call options on the stock. This is an increase of approximately 943% compared to the typical daily volume of 1,254 call options.

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About Advance Auto Parts

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.

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