Saddle Road Partners adds Advance Auto Parts (AAP) to its portfolio

Advance Auto Parts (AAP) : Saddle Road Partners added new position in Advance Auto Parts during the most recent quarter end. The investment management firm now holds 28,462 shares of Advance Auto Parts which is valued at $4,636,744 , the company said in a statement filed on Jul 12, 2016 with the SEC.Advance Auto Parts makes up approximately 2.70% of Saddle Road Partners’s portfolio.

Other Hedge Funds, Including , Gateway Investment Advisers reduced its stake in AAP by selling 172 shares or 2.66% in the most recent quarter. The Hedge Fund company now holds 6,284 shares of AAP which is valued at $1,023,726. Advance Auto Parts makes up approx 0.01% of Gateway Investment Advisers’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in AAP in the latest quarter, The investment management firm added 1,188 additional shares and now holds a total of 19,040 shares of Advance Auto Parts which is valued at $3,138,744. Advance Auto Parts makes up approx 0.07% of Exxonmobil Investment Management Inc Tx’s portfolio.Curian Capital reduced its stake in AAP by selling 5,667 shares or 32.79% in the most recent quarter. The Hedge Fund company now holds 11,614 shares of AAP which is valued at $1,914,568. Advance Auto Parts makes up approx 0.14% of Curian Capital’s portfolio. Pensionfund Sabic sold out all of its stake in AAP during the most recent quarter. The investment firm sold 8,800 shares of AAP which is valued $1,418,472.

Advance Auto Parts closed down -0.37 points or -0.22% at $164.59 with 6,77,140 shares getting traded on Friday. Post opening the session at $165.45, the shares hit an intraday low of $164.39 and an intraday high of $165.79 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Advance Auto Parts reported $2.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on May 19, 2016. Analyst had a consensus of $2.61. The company had revenue of $2979.80 million for the quarter, compared to analysts expectations of $3004.77 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.39 EPS.

Many Wall Street Analysts have commented on Advance Auto Parts. Shares were Reiterated by RBC Capital Mkts on May 20, 2016 to “Outperform” and Lowered the Price Target to $ 157 from a previous price target of $170 .Advance Auto Parts was Upgraded by Goldman to ” Buy” on May 6, 2016. Gabelli & Co Initiated Advance Auto Parts on Apr 15, 2016 to “Hold”, Price Target of the shares are set at $192.

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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