Advance Auto Parts, Inc. (NYSE:AAP) Short Interest Update

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 5,860,000 shares, a growth of 26.6% from the May 15th total of 4,630,000 shares. Based on an average daily trading volume, of 1,810,000 shares, the days-to-cover ratio is currently 3.2 days. Currently, 9.9% of the shares of the company are sold short.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, Director Brent Windom bought 4,700 shares of the stock in a transaction on Wednesday, March 27th. The shares were purchased at an average price of $85.34 per share, with a total value of $401,098.00. Following the acquisition, the director now directly owns 10,000 shares of the company's stock, valued at approximately $853,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the sale, the executive vice president now owns 10,448 shares of the company's stock, valued at approximately $899,363.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brent Windom acquired 4,700 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $853,400. The disclosure for this purchase can be found here. Insiders own 0.35% of the company's stock.

Hedge Funds Weigh In On Advance Auto Parts

A number of large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its position in Advance Auto Parts by 267.7% during the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company's stock worth $30,000 after buying an additional 257 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Advance Auto Parts during the first quarter worth approximately $34,000. Allworth Financial LP boosted its holdings in shares of Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at $27,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Advance Auto Parts in the 1st quarter valued at $43,000. Institutional investors own 88.75% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AAP. StockNews.com raised Advance Auto Parts from a "sell" rating to a "hold" rating in a report on Thursday, May 30th. 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 research note on Thursday, February 29th. Truist Financial decreased their price target on Advance Auto Parts from $70.00 to $63.00 and set a "hold" rating on the stock in a research note on Thursday, May 30th. Evercore ISI decreased their price target on Advance Auto Parts from $80.00 to $72.00 and set an "in-line" rating on the stock in a research note on Thursday, May 30th. Finally, Wedbush reiterated a "neutral" rating and issued a $70.00 price objective on shares of Advance Auto Parts in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. Based on data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of "Hold" and a consensus price target of $63.93.

Advance Auto Parts Stock Performance

NYSE:AAP traded up $0.73 on Monday, hitting $64.15. The company's stock had a trading volume of 1,661,313 shares, compared to its average volume of 1,751,423. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average of $71.58 and a two-hundred day moving average of $68.95. The firm has a market capitalization of $3.82 billion, a P/E ratio of 92.97, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. Advance Auto Parts has a one year low of $47.73 and a one year high of $88.56.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.02). The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. Advance Auto Parts's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. Research analysts predict that Advance Auto Parts will post 3.72 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. Advance Auto Parts's dividend payout ratio (DPR) is currently 144.93%.

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.