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

Advance Auto Parts, Inc. (NYSE:AAP) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 13,054,561 shares, an increase of 24.9% from the December 15th total of 10,451,941 shares. Based on an average trading volume of 2,104,620 shares, the days-to-cover ratio is presently 6.2 days. Currently, 21.9% of the shares of the stock are short sold. Currently, 21.9% of the shares of the stock are short sold. Based on an average trading volume of 2,104,620 shares, the days-to-cover ratio is presently 6.2 days.

Wall Street Analysts Forecast Growth

AAP has been the topic of a number of recent research reports. Evercore ISI decreased their price objective on Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 16th. DA Davidson set a $47.00 price target on Advance Auto Parts in a report on Monday, January 12th. Cowen reaffirmed a “hold” rating on shares of Advance Auto Parts in a research note on Tuesday. UBS Group set a $40.00 target price on shares of Advance Auto Parts in a research note on Thursday, October 30th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $50.04.

Insider Activity

In other news, EVP Kristen L. Soler sold 7,662 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the completion of the transaction, the executive vice president directly owned 23,165 shares in the company, valued at approximately $1,181,415. This represents a 24.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is owned by company insiders.

Institutional Trading of Advance Auto Parts

Hedge funds have recently bought and sold shares of the stock. Pzena Investment Management LLC increased its holdings in shares of Advance Auto Parts by 1.9% in the 2nd quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock valued at $204,322,000 after acquiring an additional 82,456 shares during the period. Federated Hermes Inc. grew its stake in Advance Auto Parts by 12.8% in the third quarter. Federated Hermes Inc. now owns 2,694,027 shares of the company’s stock valued at $165,413,000 after purchasing an additional 306,702 shares during the last quarter. State Street Corp grew its stake in Advance Auto Parts by 13.5% in the second quarter. State Street Corp now owns 2,406,039 shares of the company’s stock valued at $111,857,000 after purchasing an additional 286,148 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Advance Auto Parts by 559.0% during the third quarter. American Century Companies Inc. now owns 1,519,591 shares of the company’s stock valued at $93,303,000 after buying an additional 1,288,986 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Advance Auto Parts by 48.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock valued at $65,867,000 after buying an additional 461,761 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Trading Down 6.0%

Shares of NYSE AAP traded down $2.61 during mid-day trading on Tuesday, reaching $40.60. The company had a trading volume of 228,025 shares, compared to its average volume of 1,759,498. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -6.48 and a beta of 1.14. Advance Auto Parts has a 52 week low of $28.89 and a 52 week high of $70.00. The business’s 50-day moving average is $45.84 and its 200-day moving average is $53.45. The company has a current ratio of 1.73, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.18. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. Advance Auto Parts had a negative net margin of 4.37% and a positive return on equity of 0.64%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Equities analysts expect that Advance Auto Parts will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, January 9th. Advance Auto Parts’s dividend payout ratio is presently -15.90%.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.