Table of Contents
Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) was the recipient of a significant drop in short interest in November. As of November 30th, there was short interest totalling 2,790,000 shares, a drop of 9.4% from the November 15th total of 3,080,000 shares. Based on an average daily volume of 995,100 shares, the short-interest ratio is currently 2.8 days. Approximately 4.7% of the shares of the company are short sold.
Advance Auto Parts Trading Down 2.1 %
Shares of Advance Auto Parts stock opened at $140.16 on Monday. The firm has a market cap of $8.43 billion, a PE ratio of 18.02, a PEG ratio of 0.92 and a beta of 1.17. Advance Auto Parts has a 1 year low of $138.79 and a 1 year high of $244.55. The company has a 50 day simple moving average of $164.74 and a two-hundred day simple moving average of $174.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.23.
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its quarterly earnings results on Tuesday, November 15th. The company reported $2.84 EPS for the quarter, missing the consensus estimate of $3.32 by ($0.48). The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. Analysts expect that Advance Auto Parts will post 12.61 earnings per share for the current fiscal year.
Advance Auto Parts Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Thursday, December 15th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 77.12%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AAP. The Goldman Sachs Group reduced their target price on shares of Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating for the company in a research note on Thursday, November 17th. Truist Financial lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating and cut their price objective for the company from $228.00 to $147.00 in a research report on Wednesday, November 16th. Wells Fargo & Company cut their price objective on shares of Advance Auto Parts from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 16th. DA Davidson cut their price objective on shares of Advance Auto Parts from $200.00 to $170.00 in a research report on Thursday, November 17th. Finally, Citigroup lowered shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and cut their price objective for the company from $216.00 to $161.00 in a research report on Thursday, November 17th. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $193.13.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in AAP. Covestor Ltd increased its stake in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after buying an additional 83 shares during the period. Ellevest Inc. increased its stake in shares of Advance Auto Parts by 161.0% in the second quarter. Ellevest Inc. now owns 201 shares of the company’s stock worth $35,000 after buying an additional 124 shares during the period. First Personal Financial Services increased its stake in shares of Advance Auto Parts by 113.3% in the third quarter. First Personal Financial Services now owns 224 shares of the company’s stock worth $35,000 after buying an additional 119 shares during the period. Private Trust Co. NA purchased a new position in shares of Advance Auto Parts in the second quarter worth $36,000. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of Advance Auto Parts in the second quarter worth $38,000. 99.47% of the stock is owned by hedge funds and other 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
Before you consider Advance Auto Parts, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Advance Auto Parts wasn’t on the list.
While Advance Auto Parts currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here