By otakuyassine3@gmail.com 
Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 9,930,000 shares, a growth of 15.6% from the November 30th total of 8,590,000 shares. Currently, 16.8% of the shares of the stock are sold short. Based on an average daily volume of 2,640,000 shares, the days-to-cover ratio is currently 3.8 days.
Insider Buying and Selling at Advance Auto Parts
In related news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.
Institutional Trading of Advance Auto Parts
Institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Advance Auto Parts in the third quarter valued at $14,684,000. Wolverine Asset Management LLC raised its holdings in Advance Auto Parts by 212.4% during the third quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock worth $1,223,000 after acquiring an additional 21,320 shares in the last quarter. Quest Partners LLC acquired a new position in Advance Auto Parts during the third quarter valued at approximately $579,000. BW Gestao de Investimentos Ltda. bought a new position in Advance Auto Parts in the second quarter valued at approximately $7,916,000. Finally, FORA Capital LLC bought a new stake in shares of Advance Auto Parts during the 3rd quarter worth approximately $2,144,000. 88.75% of the stock is currently owned by institutional investors.
Advance Auto Parts Trading Up 5.3 %
Advance Auto Parts stock traded up $2.33 during mid-day trading on Monday, hitting $46.39. 1,956,281 shares of the company’s stock were exchanged, compared to its average volume of 2,061,826. The company’s 50 day simple moving average is $41.21 and its 200-day simple moving average is $48.37. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $2.77 billion, a P/E ratio of 63.55 and a beta of 1.21. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56.
Advance Auto Parts (NYSE:AAP – Get Free Report) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.82) EPS. On average, equities analysts anticipate that Advance Auto Parts will post -0.54 earnings per share for the current year.
Advance Auto Parts Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s payout ratio is presently 136.99%.
Wall Street Analysts Forecast Growth
AAP has been the subject of several research analyst reports. UBS Group lifted their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Mizuho reiterated a “neutral” rating and set a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. Truist Financial lowered their price objective on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Friday, November 15th. DA Davidson reiterated a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. Finally, Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and a consensus price target of $48.40.
Read Our Latest Stock Analysis on Advance Auto Parts
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.
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