Thomas Greco (Insider Trades), CEO of Advance Auto Parts Inc. (AAP), acquired 6,250 shares of the company on Aug. 23. The average price per share was $159.56, for a total transaction of $997,250. Advance Auto Parts is an automotive aftermarket parts provider serving professional and do-it-yourself customers in North America. The company has a market cap of $11.8 billion.
The number and volume of insider buys increased from 2015 to 2016. In the 2 years prior to 2015, there were only insider sells of AAP, however, there was a single insider buy totaling 1,230 shares in 2015 and 9 insider purchases totaling 1,062,339 shares in 2016 to date. Despite the lack of insider purchases in 2013 and 2014, there were 19 insider sells totaling 319,957 shares and 17 insider sells totaling 285,884 shares, respectively. In these four years, Greco purchased 12,950 shares in 2 transactions, including the aforementioned transaction. Another AAP insider, John Francis Ferraro (Insider Trades), director, acquired 500 shares of AAP for an average per share price of $160.28 on Aug. 22. Overall, month end price increased when comparing 2013 to 2016. For more information about insider trades with AAP, click here.
The company reported sales of $2.256 billion for the second fiscal quarter. Sales decreased in comparison to $2.370 billion reported by the company in the previous year’s fiscal second quarter. Gross profit also decreased from $1.087 billion to $1.010 billion and adjusted earnings per share fell from $2.27 to $1.90 during the same period of time. Greco commented that the fiscal second quarter results for the company was “not acceptable” and that the company is working to “alter the trajectory of the business and improve [the company’s] operating performance.” MOTOSHOP Technology Tools, a set of automotive shop technology solutions offered by Advance Auto Parts Inc., announced significant platform updates to its online training and ASE prep resource, MotoSKILL Shop Tech Training, on June 28. The updates will allow for more ease in accessing and completing online training for automotive repair shops. Jad Dunning, AAP Vice President and General Manager of MOTOSHOP Technology Tools, stated that the new updates will “ensure more quality training reaches more shops and technicians, when and where they need it.”
According to GuruFocus information, Advance Auto Parts Inc. has a business predictability rank of 5 out of 5 stars. For more information about business predictability rank, click here.
During the second quarter of 2016, Joel Greenblatt (Trades, Portfolio) sold all 81,266 shares held for an average per share price of $154.36. On the other hand, Jim Simons (Trades, Portfolio) increased his stake in the company by acquiring 393,150 shares of the company, after selling out 257,050 shares for an average per share price of $152.74 in the comparable quarter of the previous year. For more information about guru trades with AAP, click here.
Disclosure: I do not own stock in any companies mentioned in the article.
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