Quest Capital Management Inc. ADV Reduces Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

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Quest Capital Management Inc. ADV cut its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 98.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,972 shares of the company’s stock after selling 180,232 shares during the quarter. Quest Capital Management Inc. ADV’s holdings in Advance Auto Parts were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Berman Capital Advisors LLC raised its position in Advance Auto Parts by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $33,000 after purchasing an additional 140 shares during the last quarter. Nelson Roberts Investment Advisors LLC bought a new position in Advance Auto Parts during the 1st quarter valued at approximately $40,000. Pinnacle Financial Partners Inc. bought a new position in Advance Auto Parts during the 1st quarter valued at approximately $43,000. Amica Retiree Medical Trust bought a new position in Advance Auto Parts during the 2nd quarter valued at approximately $49,000. Finally, YorkBridge Wealth Partners LLC raised its position in Advance Auto Parts by 252.1% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 331 shares of the company’s stock valued at $51,000 after purchasing an additional 237 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

Shares of Advance Auto Parts stock traded up $0.53 during midday trading on Tuesday, hitting $136.88. The company had a trading volume of 12,888 shares, compared to its average volume of 1,559,283. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.36 and a current ratio of 1.36. The stock has a market capitalization of $9.75 billion, a P/E ratio of 19.20, a P/E/G ratio of 1.48 and a beta of 0.87. The company has a 50 day moving average of $151.30 and a 200 day moving average of $159.53. Advance Auto Parts, Inc. has a 52-week low of $130.09 and a 52-week high of $186.15.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.22). The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.97 EPS. Equities research analysts forecast that Advance Auto Parts, Inc. will post 7.98 EPS for the current year.

A number of research firms have commented on AAP. ValuEngine lowered Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. William Blair reaffirmed an “outperform” rating on shares of Advance Auto Parts in a research report on Wednesday, May 22nd. Credit Suisse Group lowered their price target on Advance Auto Parts from $195.00 to $162.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. UBS Group decreased their target price on Advance Auto Parts from $205.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Finally, Goldman Sachs Group initiated coverage on Advance Auto Parts in a research report on Thursday, July 11th. They issued a “sell” rating and a $151.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $183.38.

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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