Investors Buy High Volume of Advance Auto Parts Put Options (AAP)

Advance Auto Parts, Inc. (NYSE:AAP) saw some unusual options trading on Thursday. Investors bought 6,926 put options on the company. This represents an increase of 1,043% compared to the typical volume of 606 put options.

Advance Auto Parts (NYSE AAP) opened at $108.78 on Friday. The stock has a market capitalization of $8,056.36, a price-to-earnings ratio of 22.81, a P/E/G ratio of 1.76 and a beta of 1.14. The company has a current ratio of 1.52, a quick ratio of 0.32 and a debt-to-equity ratio of 0.32. Advance Auto Parts has a 12-month low of $78.81 and a 12-month high of $169.55.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.18. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.21 billion. Advance Auto Parts had a return on equity of 13.51% and a net margin of 3.75%. Advance Auto Parts’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.73 EPS. equities research analysts anticipate that Advance Auto Parts will post 5.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date is Thursday, March 22nd. Advance Auto Parts’s dividend payout ratio is currently 5.03%.

A number of research analysts have recently commented on AAP shares. BTIG Research reiterated a “sell” rating and issued a $75.00 price target (down from $90.00) on shares of Advance Auto Parts in a research note on Wednesday, October 25th. JPMorgan Chase & Co. increased their price target on Advance Auto Parts from $110.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Citigroup increased their price target on Advance Auto Parts from $82.00 to $85.00 and gave the company a “sell” rating in a research note on Wednesday, November 15th. Morgan Stanley reiterated an “overweight” rating on shares of Advance Auto Parts in a research note on Wednesday, November 15th. Finally, Zacks Investment Research cut Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $109.91.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Advance Auto Parts by 1.2% during the 4th quarter. BlackRock Inc. now owns 4,497,944 shares of the company’s stock worth $448,399,000 after purchasing an additional 51,390 shares during the last quarter. Franklin Resources Inc. grew its holdings in Advance Auto Parts by 533.5% during the 4th quarter. Franklin Resources Inc. now owns 3,418,890 shares of the company’s stock worth $340,831,000 after acquiring an additional 2,879,215 shares during the period. Artisan Partners Limited Partnership grew its holdings in Advance Auto Parts by 172.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,922,315 shares of the company’s stock worth $289,894,000 after acquiring an additional 1,849,808 shares during the period. American Century Companies Inc. grew its holdings in Advance Auto Parts by 20.5% during the 3rd quarter. American Century Companies Inc. now owns 2,535,220 shares of the company’s stock worth $251,494,000 after acquiring an additional 430,733 shares during the period. Finally, Scharf Investments LLC grew its holdings in Advance Auto Parts by 9.7% during the 3rd quarter. Scharf Investments LLC now owns 1,692,559 shares of the company’s stock worth $167,901,000 after acquiring an additional 149,741 shares during the period.

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About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

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