Short Interest Worth Watching: Advance Auto Parts Incorporated (NYSE:AAP) Shorts Decreased by 5.96% After Short Covering

November 23, 2016 - By Ruchi Gupta   ·   0 Comments

Short Interest Worth Watching: Advance Auto Parts Incorporated (NYSE:AAP) Shorts Decreased by 5.96% After Short Covering

The stock of Advance Auto Parts Incorporated (NYSE:AAP) registered a decrease of 5.96% in short interest. AAP’s total short interest was 5.84 million shares in November as published by FINRA. Its down 5.96% from 6.21 million shares, reported previously. With 1.14M shares average volume, it will take short sellers 5 days to cover their AAP’s short positions. The short interest to Advance Auto Parts Incorporated’s float is 8.92%. The stock increased 2.03% or $3.39 during the last trading session, hitting $170.29. Advance Auto Parts, Inc. (NYSE:AAP) has risen 8.38% since April 21, 2016 and is uptrending. It has outperformed by 3.05% the S&P500.

Advance Auto Parts, Inc. provides automotive aftermarket parts in North America, serving do-it-for-me and do-it-yourself (DIY), customers, as well as independently owned operators. The company has a market cap of $12.88 billion. The Company’s stores and branches offer a selection of brand name, original equipment maker (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. It has a 27.93 P/E ratio. The Firm also offers other miscellaneous offerings, including e-services.

Insitutional Activity: The institutional sentiment decreased to 1.02 in 2016 Q2. Its down 0.04, from 1.06 in 2016Q1. The ratio turned negative, as 52 funds sold all Advance Auto Parts, Inc. shares owned while 147 reduced positions. 65 funds bought stakes while 145 increased positions. They now own 70.32 million shares or 3.62% less from 72.96 million shares in 2016Q1.
The Massachusetts-based Geode Mgmt Limited Com has invested 0.05% in Advance Auto Parts, Inc. (NYSE:AAP). The Connecticut-based Hartford Investment Mngmt Company has invested 0.17% in Advance Auto Parts, Inc. (NYSE:AAP). State Treasurer State Of Michigan, a Michigan-based fund reported 25,600 shares. Global X Mngmt Ltd has 0.01% invested in the company for 723 shares. Panagora Asset Management owns 5,026 shares or 0% of their US portfolio. Weiss Multi has invested 0.2% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Conning accumulated 2,050 shares or 0.01% of the stock. Strs Ohio last reported 8,383 shares in the company. Everpoint Asset Management Lc last reported 0% of its portfolio in the stock. Qualcomm Inc De holds 21,700 shares or 0.47% of its portfolio. First Republic Invest Mgmt last reported 0.01% of its portfolio in the stock. Epoch Invest Prtnrs holds 968,444 shares or 0.59% of its portfolio. William Harris Investors Incorporated holds 1.77% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 43,574 shares. Redwood Invests Ltd Company owns 227 shares or 0% of their US portfolio. Royal London Asset Mngmt Ltd has 0.07% invested in the company for 25,891 shares.

Insider Transactions: Since May 24, 2016, the stock had 10 buys, and 0 sales for $90.59 million net activity. 6,700 shares were bought by Greco Thomas, worth $1.01M. Another trade for 70,000 shares valued at $11.11 million was bought by Smith Jeffrey C. 1,500 shares were bought by Cushing Robert B, worth $234,990 on Tuesday, August 30. Slone Reuben E had bought 632 shares worth $99,850 on Thursday, August 18. The insider Tyson Charles E sold $824,573. 633 shares with value of $99,767 were bought by BERGSTROM JOHN F on Friday, August 19. Another trade for 500 shares valued at $80,140 was made by Ferraro John Francis on Monday, August 22.

Advance Auto Parts, Inc. (NYSE:AAP) Ratings Coverage

Out of 19 analysts covering Advance Auto Parts Inc. (NYSE:AAP), 12 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 63% are positive. $217 is the highest target while $120 is the lowest. The $178.61 average target is 4.89% above today’s ($170.29) stock price. Advance Auto Parts Inc. has been the topic of 38 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Thursday, September 8, the company rating was maintained by RBC Capital Markets. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Buy” rating by UBS on Wednesday, August 5. The stock has “Buy” rating given by Sterne Agee CRT on Friday, August 14. The stock has “Buy” rating given by Deutsche Bank on Friday, February 12. On Tuesday, August 18 the stock rating was upgraded by Argus Research to “Buy”. The stock has “Hold” rating given by Gabelli on Friday, April 15. RBC Capital Markets maintained it with “Outperform” rating and $170 target price in Friday, February 12 report. The company was maintained on Friday, February 5 by UBS. The firm earned “Strong Buy” rating on Tuesday, November 15 by Raymond James. The rating was downgraded by BB&T Capital on Tuesday, December 15 to “Hold”.

AAP Company Profile

Advance Auto Parts, Inc., incorporated on August 1, 2001, provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. The Company’s stores and branches offer a selection of brand name, original equipment maker (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 Firm serves its commercial clients and DIY clients through various channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites. The Firm operates approximately 5,170 total stores and over 120 branches, which operate in the United States, Canada, Puerto Rico and the United States Virgin Islands under the names Advance Auto Parts, Autopart International (AI), Carquest and Worldpac. The Company’s Advance Auto Parts activities consist of approximately five geographic areas, which include the activities of the stores operating under the Advance Auto Parts, Carquest and AI names.

More notable recent Advance Auto Parts, Inc. (NYSE:AAP) news were published by: Fool.com which released: “Has Advance Auto Parts Inc. Turned the Corner?” on November 22, 2016, also Wsj.com with their article: “Advance Auto Parts Logs Better-Than-Expected Same-Store Sales” published on November 14, 2016, Marketwatch.com published: “Advance Auto Parts shares up 8% after earnings” on November 14, 2016. More interesting news about Advance Auto Parts, Inc. (NYSE:AAP) were released by: Businesswire.com and their article: “Advance Auto Parts Reports Third Quarter Fiscal 2016 Results” published on November 14, 2016 as well as Seekingalpha.com‘s news article titled: “Advance Auto Parts Needs Customer Enthusiasm” with publication date: November 15, 2016.

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By Ruchi Gupta


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