Pzena Investment Management LLC Takes $273.12 Million Position in Advance Auto Parts, Inc. $AAP

Pzena Investment Management LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,389,501 shares of the company’s stock, valued at approximately $273,115,000. Pzena Investment Management LLC owned about 7.27% of Advance Auto Parts as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Advance Auto Parts during the second quarter valued at about $581,909,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Advance Auto Parts by 18.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,474,546 shares of the company’s stock worth $293,751,000 after purchasing an additional 1,190,094 shares during the period. Maple Rock Capital Partners Inc. raised its holdings in shares of Advance Auto Parts by 508.2% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 951,790 shares of the company’s stock worth $58,440,000 after purchasing an additional 795,290 shares during the period. Wellington Management Group LLP purchased a new position in shares of Advance Auto Parts in the 3rd quarter worth about $33,610,000. Finally, Private Management Group Inc. acquired a new position in shares of Advance Auto Parts in the 4th quarter valued at about $20,123,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Advance Auto Parts Price Performance

AAP stock opened at $56.85 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.85 and a current ratio of 1.78. Advance Auto Parts, Inc. has a 1 year low of $37.89 and a 1 year high of $65.21. The firm has a market cap of $3.43 billion, a P/E ratio of 78.96, a price-to-earnings-growth ratio of 0.93 and a beta of 1.03. The stock has a 50-day simple moving average of $57.42 and a 200-day simple moving average of $55.36.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, May 21st. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.39 by $0.38. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.05 billion. Advance Auto Parts had a return on equity of 8.95% and a net margin of 0.51%.The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.100 EPS. On average, equities analysts predict that Advance Auto Parts, Inc. will post 2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAP. Weiss Ratings upgraded Advance Auto Parts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Truist Financial raised their price target on shares of Advance Auto Parts from $55.00 to $62.00 and gave the company a “hold” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. reduced their price target on shares of Advance Auto Parts from $64.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. TD Cowen reissued a “hold” rating on shares of Advance Auto Parts in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Advance Auto Parts from $49.00 to $54.00 and gave the company a “sell” rating in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.91.

Advance Auto Parts Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.