Aigen Investment Management LP bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 34,637 shares of the company's stock, valued at approximately $5,415,000. Advance Auto Parts accounts for approximately 0.8% of Aigen Investment Management LP's portfolio, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAP. JPMorgan Chase & Co. boosted its holdings in Advance Auto Parts by 22.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company's stock worth $456,297,000 after acquiring an additional 482,858 shares during the period. Ceredex Value Advisors LLC boosted its stake in Advance Auto Parts by 196.5% during the second quarter. Ceredex Value Advisors LLC now owns 635,030 shares of the company's stock valued at $110,848,000 after buying an additional 420,878 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Advance Auto Parts by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company's stock valued at $1,442,611,000 after purchasing an additional 261,715 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Advance Auto Parts by 202.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 390,826 shares of the company's stock worth $80,885,000 after purchasing an additional 261,608 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Advance Auto Parts by 367.4% in the 3rd quarter. Victory Capital Management Inc. now owns 190,905 shares of the company's stock valued at $29,846,000 after buying an additional 150,058 shares during the last quarter. 96.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com raised Advance Auto Parts from a "hold" rating to a "buy" rating in a research note on Wednesday, February 1st. The Goldman Sachs Group dropped their target price on Advance Auto Parts from $230.00 to $197.00 and set a "buy" rating for the company in a research report on Thursday, November 17th. Wells Fargo & Company decreased their price objective on Advance Auto Parts from $180.00 to $150.00 and set an "equal weight" rating for the company in a research note on Thursday, January 5th. Morgan Stanley decreased their price objective on Advance Auto Parts from $205.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, November 17th. Finally, Royal Bank of Canada decreased their target price on Advance Auto Parts from $199.00 to $165.00 and set a "sector perform" rating for the company in a research note on Thursday, November 17th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $189.88.

Advance Auto Parts Price Performance

Advance Auto Parts (NYSE:AAP – Get Rating) last issued its earnings results on Tuesday, November 15th. The company reported $2.84 earnings per share for the quarter, missing analysts' consensus estimates of $3.32 by ($0.48). Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.66 billion. Research analysts forecast that Advance Auto Parts, Inc. will post 12.58 EPS for the current year.

Advance Auto Parts Company Profile

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Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.

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