Advance Auto Parts, Inc. (NYSE:AAP) Sees Significant Growth in Short Interest

Advance Auto Parts, Inc. (NYSE:AAP) saw 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 daily volume of 2,104,620 shares, the short-interest ratio is presently 6.2 days. Approximately 21.9% of the shares of the company are short sold. Approximately 21.9% of the shares of the company are short sold. Based on an average daily volume of 2,104,620 shares, the short-interest ratio is presently 6.2 days.

Advance Auto Parts Stock Up 1.1%

Advance Auto Parts stock traded up $0.46 during midday trading on Monday, reaching $43.18. The company’s stock had a trading volume of 1,262,480 shares, compared to its average volume of 1,734,328. The business has a 50-day simple moving average of $45.84 and a 200-day simple moving average of $53.45. The company has a market cap of $2.59 billion, a P/E ratio of -6.86 and a beta of 1.14. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. The company has a quick ratio of 0.88, a current ratio of 1.73 and a debt-to-equity ratio of 1.55.

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

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, January 9th. Advance Auto Parts’s dividend payout ratio is -15.90%.

Wall Street Analysts Forecast Growth

AAP has been the topic of a number of research reports. Morgan Stanley reduced their price objective on Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, October 31st. UBS Group set a $40.00 target price on Advance Auto Parts in a research note on Thursday, October 30th. Truist Financial set a $48.00 price target on Advance Auto Parts in a report on Wednesday, December 17th. Finally, Roth Capital reissued a “neutral” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Advance Auto Parts in a report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $50.04.

Insider Transactions at Advance Auto Parts

In related news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total value of $390,762.00. Following the sale, the executive vice president owned 23,165 shares in the company, valued at $1,181,415. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Advance Auto Parts

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in shares of Advance Auto Parts by 107.2% in the 1st quarter. Royal Bank of Canada now owns 79,558 shares of the company’s stock worth $3,119,000 after buying an additional 41,157 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Advance Auto Parts by 327.7% in the first quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock valued at $14,230,000 after purchasing an additional 278,066 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Advance Auto Parts by 14.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company’s stock valued at $7,096,000 after purchasing an additional 23,018 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Advance Auto Parts by 21.1% during the 1st quarter. Voya Investment Management LLC now owns 12,213 shares of the company’s stock worth $479,000 after purchasing an additional 2,129 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Advance Auto Parts by 355.8% during the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock worth $44,000 after purchasing an additional 733 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.