Advance Auto Parts Inc [NYSE: AAP] jumped around 2.71 points on Tuesday, while shares priced at $78.48 at the close of the session, up 3.58%. The company report on March 11, 2024 at 4:19 PM that Advance Auto Parts Appoints Three New Independent Directors.
Enters into Cooperation Agreement with Third Point LLC and Saddle Point Management L.P.
Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, today announced that it has appointed A. Brent Windom, Gregory L. Smith and Thomas W. Seboldt as independent directors to the Advance Auto Parts board, effective immediately. In connection with these appointments, the company has entered into a cooperation agreement with Third Point LLC (together with its affiliates, “Third Point”) and Saddle Point Management, L.P. (together with its affiliates, “Saddle Point”).
Compared to the average trading volume of 1.73M shares, AAP reached a trading volume of 4520556 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Advance Auto Parts Inc [AAP]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AAP shares is $62.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AAP stock is a recommendation set at 3.15. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
William Blair have made an estimate for Advance Auto Parts Inc shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on December 13, 2023. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $60 to $43. The new note on the price target was released on November 16, 2023, representing the official price target for Advance Auto Parts Inc stock. Previously, the target price had yet another raise to $55, while TD Cowen analysts kept a Market Perform rating on AAP stock. On July 10, 2023, analysts decreased their price target for AAP shares from 130 to 50.
The Average True Range (ATR) for Advance Auto Parts Inc is set at 3.03, with the Price to Sales ratio for AAP stock in the period of the last 12 months amounting to 0.41. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 8.46. Price to Free Cash Flow for AAP in the course of the last twelve months was 106.98 with Quick ratio for the last quarter at 0.29.
How has AAP stock performed recently?
Advance Auto Parts Inc [AAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.01. With this latest performance, AAP shares gained by 23.98% in over the last four-week period, additionally plugging by 25.49% over the last 6 months – not to mention a drop of -38.71% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AAP stock in for the last two-week period is set at 76.53, with the RSI for the last a single of trading hit 82.48, and the three-weeks RSI is set at 72.08 for Advance Auto Parts Inc [AAP]. The present Moving Average for the last 50 days of trading for this stock 65.34, while it was recorded at 74.58 for the last single week of trading, and 63.52 for the last 200 days.
Advance Auto Parts Inc [AAP]: Deeper insight into the fundamentals
Advance Auto Parts Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.29 and a Current Ratio set at 1.20.
Earnings analysis for Advance Auto Parts Inc [AAP]
With the latest financial reports released by the company, Advance Auto Parts Inc posted 0.72/share EPS, while the average EPS was predicted by analysts to be reported at 2.57/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -72.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AAP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Advance Auto Parts Inc go to -5.10%.
Insider trade positions for Advance Auto Parts Inc [AAP]
The top three institutional holders of AAP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AAP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AAP stock with ownership which is approximately 5.8325%.
