Shares are trading at $81.74 which is quite a bit lower than the 50 day moving average of $92.07 and quite a bit below the 200 day moving average of $112.74. The 50 day moving average was down $-10.33 or -11.22% and the 200 day average was down $-31.00. Trading was light with 1,080K shares changing hands on Tuesday. Trading volume was down 46.47% under the stocks average daily volume.
Investors are feeling more bearish on shares of Advance Auto Parts Inc Advance lately if you take note of the motion in short interest. The stock had a rise in short interest of 18.15% between September 29, 2017 and October 13, 2017. Short shares increased 1,134,687 over that period. The short-interest ratio increased to 4.0 and the percentage of shorted shares was 0.10% on October 13.
The following firms have recently changed their position in AAP. State Of New Jersey Common Pension Fund D augmented its holdings by buying 5,000 shares an increase of 126.6% from 06/30/2017 to 09/30/2017. State Of New Jersey Common Pension Fund D now controls 8,950 shares valued at $888,000. The total value of its holdings increased 92.6%. Aperio Group, LLC bolstered its position by buying 7,286 shares an increase of 33.3% in the quarter. Aperio Group, LLC owns 29,157 shares with a value of $2,892,000. The value of the position overall is up by 13.4%.
Cornerstone Advisors, Inc. expanded its stake by buying 175 shares an increase of 21.8% as of 09/30/2017. Cornerstone Advisors, Inc. now holds 976 shares worth $97,000. The total value of its holdings increased 4.3%. As of the end of the quarter Andra Ap-fonden had bought 3,100 shares growing its holdings by 16.6%. The value of the investment in Advance Auto Parts Inc Advance decreased from $2,180,000 to $2,163,000 a change of $17,000 for the reporting period.
On August 16 Barclays maintained a company rating of “Underweight” but moved down the price target from $130.00 to $90.00. On August 21 the company was upgraded to “Equal-Weight” from “Underweight” by Barclays.
On September 12 the stock rating was downgraded from “Neutral” to “Sell” with a current price target of $82.00 by analysts at Citigroup. Citigroup lowered the price target and downgraded the stock on September 12 cutting the price target from $162.00 to $82.00 and changing the rating from “Neutral” to “Sell”.
On October 4 the company was changed to “Market Perform” according to a Raymond James report down from the previous “Strong Buy” rating. October 25 investment analysts at BTIG Research left the company rating at “Sell” and lowered the price target to $75.00 from $120.00.
In the market the company is trading down since yesterday’s close of $81.74. The company declared a dividend paid on Friday the 6th of October 2017. The dividend payment was $0.060 per share for the quarter which comes to $0.24 on an annualized basis. This dividend amount represented a yield of $0.29. The ex-dividend date was set for Thursday the 21st of September 2017.
The P/E ratio is currently 16.32 and market capitalization is 6.04B. In the latest earnings report the EPS was $5.01 and is expected to be $5.15 for the current year with 73,847,000 shares outstanding. Next quarter’s EPS is estimated at $0.75 with next year’s EPS anticipated to be $6.10.
Advance Auto Parts, Inc., launched on August 1, 2001, provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Business’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. The Company serves its Professional and DIY customers through various channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites. As of December 31, 2016, the Company operated 5,062 total stores and 127 branches primarily under the trade names Advance Auto Parts, Autopart International, Carquest and Worldpac. As of December 31, 2016, the Business’s Advance Auto Parts operations consisted of three geographic divisions, which included the operations of the stores operating under the Advance Auto Parts, Carquest and Autopart International trade names. The Business’s e-commerce platforms, primarily consisting of its online Websites and Professional ordering platforms, are part of its integrated operating approach of serving its Professional and DIY customers. The Business’s online Websites allow its DIY customers to pick up merchandise at a store or have their purchases shipped directly to them. The majority of the Business’s online DIY sales are picked up at store locations. Through the Business’s online ordering platforms, Professional customers can place orders with a designated store location for delivery to their places of business or pick-up..