Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 3,380,000 shares, a growth of 21.1% from the November 30th total of 2,790,000 shares. Currently, 5.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is presently 3.3 days.
Advance Auto Parts Price Performance
Shares of Advance Auto Parts stock opened at $147.03 on Friday. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.23 and a current ratio of 1.13. The stock has a 50 day moving average price of $159.40 and a 200-day moving average price of $172.22. Advance Auto Parts has a one year low of $138.52 and a one year high of $244.55.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its earnings results on Tuesday, November 15th. The company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). The company had revenue of $2.64 billion during 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%. Equities analysts expect that Advance Auto Parts will post 12.6 EPS for the current year.
Advance Auto Parts Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, December 15th. Advance Auto Parts’s dividend payout ratio (DPR) is 77.12%.
Hedge Funds Weigh In On Advance Auto Parts
A number of large investors have recently bought and sold shares of AAP. JPMorgan Chase & Co. boosted its holdings in Advance Auto Parts by 22.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock valued at $456,297,000 after acquiring an additional 482,858 shares during the period. Balyasny Asset Management LLC boosted its holdings in Advance Auto Parts by 4,881.8% during the 3rd quarter. Balyasny Asset Management LLC now owns 477,160 shares of the company’s stock valued at $74,600,000 after acquiring an additional 467,582 shares during the period. Ceredex Value Advisors LLC boosted its holdings in Advance Auto Parts by 196.5% during the 2nd quarter. Ceredex Value Advisors LLC now owns 635,030 shares of the company’s stock valued at $110,848,000 after acquiring an additional 420,878 shares during the period. Vanguard Group Inc. boosted its holdings in Advance Auto Parts by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 7,291,395 shares of the company’s stock valued at $1,139,936,000 after acquiring an additional 277,906 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Advance Auto Parts by 202.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 390,826 shares of the company’s stock valued at $80,885,000 after acquiring an additional 261,608 shares during the period. Hedge funds and other institutional investors own 96.04% of the company’s stock.
Analyst Ratings Changes
AAP has been the topic of several recent research reports. Guggenheim downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Thursday, November 17th. Royal Bank of Canada decreased their target price on Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 17th. The Goldman Sachs Group decreased their target price on Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating on the stock in a research note on Thursday, November 17th. Argus decreased their target price on Advance Auto Parts from $220.00 to $185.00 in a research note on Monday, December 5th. Finally, Stephens decreased their target price on Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating on the stock in a research note on Monday, November 21st. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $193.13.
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.
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