Advance Auto Parts Inc. [AAP] Investment Guide: What You Need to Know


In a filing, Advance Auto Parts Inc. revealed its Director LEE EUGENE I JR acquired Company’s shares for reported $0.5 million on Sep 13. In the deal valued at $57.65 per share,8,670 shares were bought. As a result of this transaction, LEE EUGENE I JR now holds 19,430 shares worth roughly $ 1.13 million.

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Then, Pertz Douglas A bought 4,575 shares, generating $302,058 in total proceeds. Upon buying the shares at $66.02, the Director now owns 12,831 shares.

Before that, Pertz Douglas A bought 1,570 shares. Advance Auto Parts Inc. shares valued at $100,088 were divested by the Director at a price of $63.75 per share. As a result of the transaction, Pertz Douglas A now holds 8,256 shares, worth roughly $0.48 million.

Atlantic Equities downgraded its Advance Auto Parts Inc. [AAP] rating to an Underweight from a a Neutral in a research note published on Monday, July 10, 2023; the price target was decreased to $50 from $130. PT values the company’s stock at a premium of -16.32 to its Monday closing price.

Price Performance Review of AAP

On Monday, Advance Auto Parts Inc. [NYSE:AAP] saw its stock fall -2.77% to $58.16. On the same session, the stock had its day’s lowest price of $57.52, but rose to a high of $59.48. Over the last five days, the stock has lost -7.00%. Advance Auto Parts Inc. shares have fallen nearly -60.44% since the year began. Nevertheless, the stocks have fallen -65.30% over the past one year. While a 52-week high of $194.35 was reached on 02/02/23, a 52-week low of $56.40 was recorded on 09/13/23. SMA at 50 days reached $68.52, while 200 days put it at $109.80. A total of 2.01 million shares were traded, compared to the trading of 4.47 million shares in the previous session.

Levels Of Support And Resistance For AAP Stock

The 24-hour chart illustrates a support level at 57.29, which if violated will result in even more drops to 56.43. On the upside, there is a resistance level at 59.25. A further resistance level may holdings at 60.35. The Relative Strength Index (RSI) on the 14-day chart is 32.02, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.83%. Stochastics %K at 20.96% indicates the stock is a holding.

How much short interest is there in Advance Auto Parts Inc.?

A steep rise in short interest was recorded in Advance Auto Parts Inc. stocks on Aug 30, 2023, dropping by -0.3 million shares to a total of 4.18 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 4.48 million shares. There was a decline of -7.18%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.12% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.36.

Advance Auto Parts Inc. [AAP] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 7,353,014 shares, or roughly 12.36% of the outstanding AAP shares. In other words, the investor’s shares have fallen by -263,135 from its previous 13-F filing of 7616149.0. Additionally, SSgA Funds Management, Inc. decreased -15.10% of its stake after which the total value it holdings stand at $200,507,345, while BlackRock Fund Advisors added 2.29% of its stake to hold $196.32 million in the firm. Over the last quarter, T. Rowe Price Associates, Inc. purchased 1,970,674 shares of Advance Auto Parts Inc., while D. E. Shaw & Co. LP bought 1,627,993 shares. At present, Champlain Investment Partners LLC is holding 1,556,838 shares valued at $107.14 million. Invesco Capital Management LLC owned 1,432,861 shares of the company at the time of its most recent 13F filing, worth $98.61 million.

According to FactSet, Advance Auto Parts Inc.’s share price will average $71.79 in the next year, based on opinions of analysts polled by the firm. This is up nearly 23.12 percent from its previous closing price of $59.82. Analysts expect Advance Auto Parts Inc. stock to reach the higher price of $84.00, while the lowest price estimate is $50.00. However, 26 analysts have rated AAP stock as a Hold in their predictions for 2023.


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