Phocas Financial Corp. Cuts Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Phocas Financial Corp. decreased its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 85.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,536 shares of the company’s stock after selling 82,317 shares during the quarter. Phocas Financial Corp.’s holdings in Advance Auto Parts were worth $687,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares during the last quarter. Raymond James & Associates raised its holdings in Advance Auto Parts by 11.7% in the third quarter. Raymond James & Associates now owns 106,475 shares of the company’s stock worth $4,151,000 after buying an additional 11,169 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Advance Auto Parts in the third quarter worth approximately $17,477,000. Arkadios Wealth Advisors grew its holdings in shares of Advance Auto Parts by 225.0% during the third quarter. Arkadios Wealth Advisors now owns 17,269 shares of the company’s stock valued at $673,000 after buying an additional 11,956 shares during the last quarter. Finally, Stephens Inc. AR increased its position in shares of Advance Auto Parts by 7.1% during the third quarter. Stephens Inc. AR now owns 27,704 shares of the company’s stock valued at $1,080,000 after acquiring an additional 1,828 shares in the last quarter. 88.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AAP shares. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. UBS Group upped their price target on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 15th. BMO Capital Markets started coverage on Advance Auto Parts in a report on Friday, December 13th. They issued a “market perform” rating and a $45.00 price objective for the company. Barclays lowered their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Finally, Wells Fargo & Company lifted their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and an average target price of $47.88.

Insider Buying and Selling

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Advance Auto Parts Stock Performance

Shares of AAP opened at $45.93 on Wednesday. The business has a 50-day simple moving average of $46.22 and a two-hundred day simple moving average of $43.98. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 62.92, a PEG ratio of 1.98 and a beta of 1.15.

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.