Today’s Ownership Action: Advance Auto Parts Inc (NYSE:AAP) Q2 2016 Sentiment Report

November 28, 2016 - By Ellis Scott   ·   0 Comments

Today's Ownership Action: Advance Auto Parts Inc (NYSE:AAP)  Q2 2016 Sentiment Report

Sentiment for Advance Auto Parts Inc (NYSE:AAP)

Advance Auto Parts Inc (NYSE:AAP) institutional sentiment decreased to 1.02 in 2016 Q2. Its down -0.04, from 1.06 in 2016Q1. The ratio has dropped, as 210 investment managers opened new or increased holdings, while 199 cut down and sold their stakes in Advance Auto Parts Inc. The investment managers in our partner’s database now own: 70.32 million shares, down from 72.96 million shares in 2016Q1. Also, the number of investment managers holding Advance Auto Parts Inc in their top 10 holdings increased from 9 to 13 for an increase of 4. Sold All: 52 Reduced: 147 Increased: 145 New Position: 65.

Advance Auto Parts, Inc. provides automotive aftermarket parts in North America, serving do-it-for-me and do-it-yourself (DIY), customers, as well as independently owned operators. The company has a market cap of $12.69 billion. The Company’s stores and branches offer a selection of brand name, original equipment maker (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. It has a 28.29 P/E ratio. The Firm also offers other miscellaneous offerings, including e-services.

About 110,321 shares traded hands. Advance Auto Parts, Inc. (NYSE:AAP) has risen 8.56% since April 25, 2016 and is uptrending. It has outperformed by 2.54% the S&P500.

Analysts await Advance Auto Parts, Inc. (NYSE:AAP) to report earnings on February, 9. They expect $1.08 EPS, down 11.48% or $0.14 from last year’s $1.22 per share. AAP’s profit will be $79.46 million for 39.92 P/E if the $1.08 EPS becomes a reality. After $1.73 actual EPS reported by Advance Auto Parts, Inc. for the previous quarter, Wall Street now forecasts -37.57% negative EPS growth.

According to Zacks Investment Research, “Advance Auto Parts, Inc. is a specialty retailer of automotive parts, accessories and maintenance items to do-it-yourself customers.”

Starboard Value Lp holds 15.76% of its portfolio in Advance Auto Parts, Inc. for 2.76 million shares. Fir Tree Inc. owns 1.14 million shares or 7.56% of their US portfolio. Moreover, Marble Arch Investments Lp has 6.3% invested in the company for 559,400 shares. The North Carolina-based Banbury Partners Llc has invested 5.13% in the stock. Scharf Investments Llc, a California-based fund reported 1.35 million shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 9 buys, and 0 selling transactions for $75.30 million net activity.

Advance Auto Parts, Inc. (NYSE:AAP) Ratings Coverage

Ratings analysis reveals 63% of Advance Auto Parts Inc.’s analysts are positive. Out of 19 Wall Street analysts rating Advance Auto Parts Inc., 12 give it “Buy”, 1 “Sell” rating, while 6 recommend “Hold”. The lowest target is $120 while the high is $217. The stock’s average target of $178.61 is 3.56% above today’s ($172.47) share price. AAP was included in 38 notes of analysts from August 5, 2015. As per Tuesday, November 15, the company rating was upgraded by Susquehanna. The stock of Advance Auto Parts, Inc. (NYSE:AAP) has “Outperform” rating given on Thursday, September 8 by RBC Capital Markets. The firm has “Buy” rating by Zacks given on Monday, September 7. On Wednesday, August 5 the stock rating was downgraded by Evercore to “Hold”. The stock of Advance Auto Parts, Inc. (NYSE:AAP) has “Buy” rating given on Friday, February 12 by Deutsche Bank. Goldman Sachs maintained the shares of AAP in a report on Wednesday, April 6 with “Neutral” rating. Argus Research upgraded the shares of AAP in a report on Tuesday, August 18 to “Buy” rating. As per Friday, May 6, the company rating was upgraded by Goldman Sachs. Deutsche Bank maintained Advance Auto Parts, Inc. (NYSE:AAP) on Wednesday, August 17 with “Buy” rating. Citigroup maintained the stock with “Neutral” rating in Wednesday, August 17 report.

AAP Company Profile

Advance Auto Parts, Inc., incorporated on August 1, 2001, provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. The Company’s stores and branches offer a selection of brand name, original equipment maker (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. The Firm serves its commercial clients and DIY clients through various channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites. The Firm operates approximately 5,170 total stores and over 120 branches, which operate in the United States, Canada, Puerto Rico and the United States Virgin Islands under the names Advance Auto Parts, Autopart International (AI), Carquest and Worldpac. The Company’s Advance Auto Parts activities consist of approximately five geographic areas, which include the activities of the stores operating under the Advance Auto Parts, Carquest and AI names.

More notable recent Advance Auto Parts, Inc. (NYSE:AAP) news were published by: Fool.com which released: “Has Advance Auto Parts Inc. Turned the Corner?” on November 22, 2016, also Wsj.com with their article: “Advance Auto Parts Logs Better-Than-Expected Same-Store Sales” published on November 14, 2016, Seekingalpha.com published: “JPMorgan calls Advance Auto Parts best in class” on November 28, 2016. More interesting news about Advance Auto Parts, Inc. (NYSE:AAP) were released by: Marketwatch.com and their article: “Advance Auto Parts shares up 8% after earnings” published on November 14, 2016 as well as Seekingalpha.com‘s news article titled: “Advance Auto Parts Needs Customer Enthusiasm” with publication date: November 15, 2016.

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By Ellis Scott

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