Advance Auto Parts, Inc. (NYSE:AAP) Short Interest Update

Advance Auto Parts, Inc. (NYSE:AAP) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 4,780,000 shares, a growth of 9.6% from the March 31st total of 4,360,000 shares. Approximately 8.1% of the shares of the company are short sold. Based on an average trading volume of 1,920,000 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Mizuho began coverage on Advance Auto Parts in a research report on Tuesday, March 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Evercore ISI reduced their target price on Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Royal Bank of Canada boosted their price target on shares of Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Finally, Truist Financial raised their price objective on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.56.

Advance Auto Parts Trading Down 0.0 %

Shares of AAP opened at $72.95 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 98.58, a PEG ratio of 1.37 and a beta of 1.17. The stock has a fifty day moving average price of $76.40 and a two-hundred day moving average price of $64.97. Advance Auto Parts has a 52-week low of $47.73 and a 52-week high of $127.31.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.83). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business posted $2.88 EPS. The company’s revenue was down .4% compared to the same quarter last year. Analysts predict that Advance Auto Parts will post 3.94 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, April 11th. Advance Auto Parts’s dividend payout ratio is presently 135.14%.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the transaction, the executive vice president now directly owns 10,448 shares in the company, valued at $899,363.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Brent Windom purchased 4,700 shares of Advance Auto Parts stock in a transaction on Wednesday, March 27th. The stock was purchased at an average cost of $85.34 per share, with a total value of $401,098.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $853,400. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the transaction, the executive vice president now owns 10,448 shares in the company, valued at approximately $899,363.84. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Advance Auto Parts

Institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its stake in shares of Advance Auto Parts by 267.7% in the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after acquiring an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Advance Auto Parts during the 1st quarter worth approximately $34,000. Allworth Financial LP grew its position in shares of Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after buying an additional 266 shares during the period. Principal Securities Inc. acquired a new stake in shares of Advance Auto Parts during the 4th quarter worth approximately $27,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Advance Auto Parts during the 1st quarter worth approximately $43,000. 88.75% of the stock is owned by institutional investors.

About Advance Auto Parts

Advance Auto Parts, Inc provides 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 offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.