Alta Capital Management Lowers stake in Advance Auto Parts (AAP)

Advance Auto Parts (AAP) : Alta Capital Management reduced its stake in Advance Auto Parts by 0.76% during the most recent quarter end. The investment management company now holds a total of 174,524 shares of Advance Auto Parts which is valued at $25,616,633 after selling 1,328 shares in Advance Auto Parts , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Advance Auto Parts makes up approximately 1.62% of Alta Capital Management’s portfolio.

Other Hedge Funds, Including , Gulf International Bank (uk) Ltd boosted its stake in AAP in the latest quarter, The investment management firm added 1,700 additional shares and now holds a total of 22,581 shares of Advance Auto Parts which is valued at $3,314,439. Advance Auto Parts makes up approx 0.05% of Gulf International Bank (uk) Ltd’s portfolio.Legacy Private Trust boosted its stake in AAP in the latest quarter, The investment management firm added 1,552 additional shares and now holds a total of 8,937 shares of Advance Auto Parts which is valued at $1,311,594. Advance Auto Parts makes up approx 0.18% of Legacy Private Trust’s portfolio.Creative Planning boosted its stake in AAP in the latest quarter, The investment management firm added 21 additional shares and now holds a total of 1,199 shares of Advance Auto Parts which is valued at $175,965.Exxonmobil Investment Management Inc Tx reduced its stake in AAP by selling 237 shares or 1.24% in the most recent quarter. The Hedge Fund company now holds 18,803 shares of AAP which is valued at $2,785,288. Advance Auto Parts makes up approx 0.06% of Exxonmobil Investment Management Inc Tx’s portfolio.

Advance Auto Parts closed down -1.3 points or -0.88% at $146.76 with 6,28,592 shares getting traded on Tuesday. Post opening the session at $147.96, the shares hit an intraday low of $146.45 and an intraday high of $148.47 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Advance Auto Parts reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.21 based on the information available during the earnings call on Aug 16, 2016. Analyst had a consensus of $2.11. The company had revenue of $2256.20 million for the quarter, compared to analysts expectations of $2243.50 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.27 EPS.

Many Wall Street Analysts have commented on Advance Auto Parts. Shares were Reiterated by RBC Capital Mkts on Sep 8, 2016 to “Outperform” and Lowered the Price Target to $ 174 from a previous price target of $180 .Susquehanna Initiated Advance Auto Parts on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $158.Company shares were Reiterated by Wedbush on Aug 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 175 from a previous price target of $160 .

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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