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. Based on an average daily trading volume, of 1,920,000 shares, the short-interest ratio is presently 2.5 days. Approximately 8.1% of the company’s stock are short sold.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Carla Jean Bailo purchased 310 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average cost of $81.19 per share, with a total value of $25,168.90. Following the acquisition, the director now owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at $899,363.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carla Jean Bailo purchased 310 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were bought at an average price of $81.19 per share, with a total value of $25,168.90. Following the purchase, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

AAP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Evercore ISI decreased their price target on Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. TheStreet upgraded shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. Barclays boosted their price target on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Finally, Mizuho initiated coverage on Advance Auto Parts in a report on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $64.56.

Advance Auto Parts Trading Down 0.2 %

Shares of NYSE AAP opened at $75.25 on Tuesday. Advance Auto Parts has a twelve month low of $47.73 and a twelve month high of $127.31. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $75.94 and a two-hundred day simple moving average of $64.76. The firm has a market cap of $4.49 billion, a PE ratio of 101.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.17.

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

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Thursday, April 11th. Advance Auto Parts’s payout ratio is currently 135.14%.

Advance Auto Parts Company Profile

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.