CIBC Asset Management Inc grew its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 10.3% in the 1st quarter, HoldingsChannel reports. The fund owned 9,357 shares of the company’s stock after purchasing an additional 870 shares during the quarter. CIBC Asset Management Inc’s holdings in Advance Auto Parts were worth $1,596,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Two Sigma Advisers LP lifted its stake in shares of Advance Auto Parts by 1,003.5% in the fourth quarter. Two Sigma Advisers LP now owns 1,117,577 shares of the company’s stock worth $175,974,000 after buying an additional 1,016,300 shares during the last quarter. Norges Bank acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth $110,154,000. Two Sigma Investments LP lifted its stake in shares of Advance Auto Parts by 158.6% in the fourth quarter. Two Sigma Investments LP now owns 934,980 shares of the company’s stock worth $147,222,000 after buying an additional 573,376 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Advance Auto Parts by 11.7% in the fourth quarter. BlackRock Inc. now owns 5,089,102 shares of the company’s stock worth $801,330,000 after buying an additional 534,863 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Advance Auto Parts by 417.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 560,510 shares of the company’s stock worth $88,250,000 after buying an additional 452,190 shares during the last quarter. 99.29% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on AAP. Zacks Investment Research cut shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Citigroup reduced their price objective on shares of Advance Auto Parts from $188.00 to $182.00 and set a “neutral” rating for the company in a research note on Monday, April 1st. Wells Fargo & Co restated a “hold” rating and issued a $175.00 price objective on shares of Advance Auto Parts in a research note on Tuesday, February 19th. Credit Suisse Group restated a “buy” rating and issued a $195.00 price objective on shares of Advance Auto Parts in a research note on Tuesday, February 19th. Finally, Jefferies Financial Group reduced their price objective on shares of Advance Auto Parts to $195.00 and set a “buy” rating for the company in a research note on Wednesday, February 20th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $190.71.

NYSE:AAP opened at $158.64 on Tuesday. The firm has a market cap of $11.33 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.51 and a beta of 0.97. Advance Auto Parts, Inc. has a one year low of $113.61 and a one year high of $186.15. The company has a quick ratio of 0.44, a current ratio of 1.57 and a debt-to-equity ratio of 0.29.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, February 19th. The company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.03. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. As a group, analysts forecast that Advance Auto Parts, Inc. will post 8.12 earnings per share for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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