Sphera Funds Management Ltd. buys $4,591,892 stake in Advance Auto Parts (AAP)

Advance Auto Parts (AAP) : Sphera Funds Management Ltd. scooped up 7,526 additional shares in Advance Auto Parts during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 27,662 shares of Advance Auto Parts which is valued at $4,591,892.Advance Auto Parts makes up approximately 1.06% of Sphera Funds Management Ltd.’s portfolio.

Other Hedge Funds, Including , Credit Agricole S A boosted its stake in AAP in the latest quarter, The investment management firm added 1,315 additional shares and now holds a total of 34,044 shares of Advance Auto Parts which is valued at $5,651,304. Advance Auto Parts makes up approx 0.02% of Credit Agricole S A’s portfolio.First Trust Advisors Lp boosted its stake in AAP in the latest quarter, The investment management firm added 19,278 additional shares and now holds a total of 52,281 shares of Advance Auto Parts which is valued at $8,913,388. Advance Auto Parts makes up approx 0.03% of First Trust Advisors Lp’s portfolio.Creative Planning boosted its stake in AAP in the latest quarter, The investment management firm added 8 additional shares and now holds a total of 1,178 shares of Advance Auto Parts which is valued at $191,908.

Advance Auto Parts opened for trading at $156.97 and hit $159.72 on the upside on Friday, eventually ending the session at $158.04, with a gain of 0.39% or 0.61 points. The heightened volatility saw the trading volume jump to 11,40,458 shares. Company has a market cap of $11,625 M.

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. 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 .Company shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 180 from a previous price target of $160 .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 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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