Advance Auto Parts, Inc. (NYSE:AAP) Shares Acquired by Cambria Investment Management L.P.

Cambria Investment Management L.P. lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,150 shares of the company’s stock after buying an additional 2,550 shares during the period. Cambria Investment Management L.P. owned approximately 0.06% of Advance Auto Parts worth $5,183,000 as of its most recent SEC filing.

→ A gold storm is coming… (From Wall Street Watch Dogs)

A number of other institutional investors have also recently added to or reduced their stakes in AAP. Private Advisor Group LLC purchased a new position in Advance Auto Parts in the 1st quarter valued at about $232,000. MetLife Investment Management LLC lifted its position in shares of Advance Auto Parts by 21.9% during the first quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock worth $3,511,000 after purchasing an additional 3,046 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Advance Auto Parts by 5.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock worth $1,727,000 after purchasing an additional 435 shares during the last quarter. Cibc World Market Inc. raised its stake in Advance Auto Parts by 120.6% during the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock worth $2,399,000 after acquiring an additional 6,338 shares during the period. Finally, Blair William & Co. IL raised its stake in Advance Auto Parts by 14.4% during the first quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock worth $956,000 after acquiring an additional 582

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Napa Auto Parts Returns as Thunder Series Sponsor, Hvac Distributors Joins as Race Sponsor for Pa 410 Sprint Speed Week Series at Grandview Tuesday, June 27

For thirty-one of the past thirty-three years, NAPA Auto Parts was the lead sponsor of the Thunder on the Hill Racing Series, and their flags will proudly wave again when this highly unique and successful series returns to the Grandview Speedway in 2023.  The continuation of this partnership comes down to taking care of your sponsors and ensuring they are getting the maximum exposure and customer contacts.   We were thrilled to hear from NAPA Representative John Hanlon that NAPA was returning for still another season of Thunder on the Hill events at Grandview Speedway. 

NAPA Auto Parts and NAPA Auto Care Centers have a strong representation in our area with locations in Amber, Collegeville Auto Parts, Downingtown, Gilbertsville Auto Supply, Glenside, Frazer, Horsham, Kutztown, Lansdale, Norristown, Pottstown Auto Parts, Pennsburg Auto Parts, Phoenixville Auto Parts, Quakertown, Reading, Southampton, Strafford and Telford Auto Parts.   Throughout the season many if not all of these NAPA locations will be on hand at Thunder on the Hill.

Joining the team of Thunder on the Hill sponsors for 2023 is HVAC Distributors, Partners for Success.   HVAC Distributors will be the event sponsor for the always popular PA 410 Sprint Speed Week event on Tuesday, June 27,  comprised of the $10,000 to win 35 lap Hodnett Cup and the 358 Modifieds.   HVAC Distributors is a full service wholesale distributor and manufacturer of residential and light commercial heating and air-conditioning equipment and accessories operating in Pennsylvania, Maryland, Delaware, Northern Virginia and Western New York.

“HVAC Distributors is excited to see racing at Grandview Speedway back for 2023 and to be part of the Thunder on the Hill Racing Series as event sponsor of the Pennsylvania 410 Sprint Speed Week show”,  Todd Basselgia of HVAC added, “We’re looking forward to meeting and making many new friends and getting

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Advance Auto Parts, Inc. (NYSE:AAP) Given Average Recommendation of “Hold” by Brokerages

Shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) have received a consensus rating of “Hold” from the seventeen brokerages that are currently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $188.29.

→ The Next Big Crisis Is Here (From Porter & Company)

Several research analysts recently commented on AAP shares. StockNews.com cut Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. Wedbush upgraded Advance Auto Parts from a “neutral” rating to an “outperform” rating in a report on Friday, January 13th. Guggenheim cut Advance Auto Parts from a “buy” rating to a “neutral” rating in a report on Thursday, November 17th. Wells Fargo & Company reduced their target price on Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating on the stock in a report on Thursday, January 5th. Finally, DA Davidson reduced their target price on Advance Auto Parts from $200.00 to $170.00 in a report on Thursday, November 17th.

Advance Auto Parts Price Performance

NYSE AAP opened at $147.62 on Friday. The stock’s 50-day moving average price is $147.71 and its two-hundred day moving average price is $168.78. The company has a current ratio of 1.13, a quick ratio of 0.23 and a debt-to-equity ratio of 0.44. The company has a market cap of $8.87 billion, a PE ratio of 18.97, a PEG ratio of 0.88 and a beta of 1.15. Advance Auto Parts has a 1 year low of $138.52 and a 1 year high of $237.39.

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Global Auto Parts And Accessories Market to Reach $2.4

Bear of the Day: Advance Auto Parts Inc. (AAP)

The Zacks Retail and Wholesale sector has modestly underperformed relative to the S&P 500 over the last year, down roughly 15%.

One company residing in the sector, Advance Auto Parts AAP, has seen its earnings outlook shift negative over the last several months, pushing the stock into a Zacks Rank #5 (Strong Sell).

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Image Source: Zacks Investment Research

Advance Auto Parts primarily sells replacement parts (excluding tires), accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy-duty trucks.

Let’s take a deeper dive into how the company shapes up.

Share Performance

Over the last year, AAP shares have widely lagged behind the S&P 500, down more than 30%.

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Image Source: Zacks Investment Research

And over the last three months, sellers have remained in control, with shares down 13% and again lagging behind the general market.

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Image Source: Zacks Investment Research

Quarterly Results

Advance Auto has struggled to find consistency within its quarterly results, falling short of the Zacks Consensus EPS Estimate in back-to-back quarters. Top-line results have also left some to be desired, with AAP missing revenue expectations in three consecutive quarters.

Just in its latest release, the company fell short of earnings expectations by roughly 15% and reported sales marginally below estimates.

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Image Source: Zacks Investment Research

Growth Outlook

Despite its earnings outlook coming under pressure, AAP still carries a respectable growth profile, with earnings forecasted to climb 5% in its current fiscal year (FY22) and a further 5.4% in FY23.

The projected earnings growth comes on top of forecasted Y/Y revenue upticks of 1% in FY22 and 2.6% in FY23.

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Image Source: Zacks Investment Research

Bottom Line

Inconsistent quarterly results and negative earnings estimate revisions from analysts paint a challenging picture for the company in the near term.

Advance Auto

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