Advance Auto Parts Inc (NYSE:AAP) price on Thursday, June 12, fall -1.38% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $50.81.
A look at the stock’s price movement, the close in the last trading session was $51.52. Turning to its 52-week performance, $67.03 and $28.89 were the 52-week high and 52-week low respectively. Overall, AAP moved 52.90% over the past month.
Advance Auto Parts Inc’s market cap currently stands at around $3.04 billion, with investors looking forward to this quarter’s earnings report slated for in July. The company has a Forward Dividend ratio of 1.00, with its dividend yield at 1.97%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 1.97B for the company’s revenue for the quarter, with a low and high estimate of 1.8B and 2.05B respectively. The average forecast suggests down to a -26.54% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 8.5B, representing a -6.53% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that AAP is a 100% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
13 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 10 analyst(s) rate the stock as a Hold, 3 recommend AAP as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
AAP’s current price about 9.08% and 32.55% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 63.86, while 7-day volatility ratio is 2.27% and 10.81% in the 30-day chart. Further, Advance Auto Parts Inc (AAP) has a beta value of 1.09, and an average true range (ATR) of 2.36. Analysts have given the company’s stock an average 52-week price target of $42.5, forecast between a low of $35 and high of $50. Looking at the price targets, the low is 31.12% off current price level while to achieve the yearly target high, price needs to move 1.59%. Nonetheless, investors will most likely welcome a 16.36% jump to $42.5 which is the analysts’ median price.
If we refocus on Advance Auto Parts Inc (NYSE:AAP), historical trading data shows that trading volumes averaged 2.91 million over the past 3 months. The company’s latest data on shares outstanding shows there are 60.00 million shares.
The 1.60% of Advance Auto Parts Inc’s shares are in the hands of company insiders while institutional holders own 124.10% of the company’s shares. Current price change has pushed the stock 7.44% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AAP stock continues to rise going into the next quarter.
