Pensionfund Sabic buys $1.4 Million stake in Advance Auto Parts (AAP)

Advance Auto Parts (AAP) : Pensionfund Sabic scooped up 800 additional shares in Advance Auto Parts during the most recent quarter end , according to a recent disclosure to the SEC on Apr 4, 2016. The investment management firm now holds a total of 8,800 shares of Advance Auto Parts which is valued at $1.4 Million.Advance Auto Parts makes up approximately 0.42% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands boosted its stake in AAP in the latest quarter, The investment management firm added 4,000 additional shares and now holds a total of 20,000 shares of Advance Auto Parts which is valued at $3.1 Million. Advance Auto Parts makes up approx 0.42% of Pensionfund Dsm Netherlands’s portfolio.

On the company’s financial health, Advance Auto Parts reported $1.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $1.20. The company had revenue of $2033.50 million for the quarter, compared to analysts expectations of $2050.26 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.37 EPS.

Many Wall Street Analysts have commented on Advance Auto Parts. Barclays Initiated Advance Auto Parts on Mar 31, 2016 to “Underweight”, Price Target of the shares are set at $130.Shares were Reiterated by RBC Capital Mkts on Feb 12, 2016 to “Outperform” and Lowered the Price Target to $ 170 from a previous price target of $176 .Shares were Reiterated by Wedbush on Feb 12, 2016 to “Outperform” and Lowered the Price Target to $ 160 from a previous price target of $175 .

Advance Auto Parts closed down -1.34 points or -0.86% at $154.77 with 3,64,454 shares getting traded on Monday. Post opening the session at $156.25, the shares hit an intraday low of $154.75 and an intraday high of $157.28 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Advance Auto Parts Inc. is a provider of automotive aftermarket parts. The company’s stores and branches offer a selection of brand name original equipment manufacturer (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 company serves its do-it-for-me (commercial) customers and do-it-yourself (DIY) customers through a variety of channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites. As of January 3 2015 the Company’s operations are comprised of 5261 stores and 111 distribution branches which operate in the United States Canada Puerto Rico and the United States Virgin Islands primarily under the trade names Advance Auto Parts Carquest Autopart International and Worldpac.

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