The stock of Advance Auto Parts, Inc. (NYSE:AAP) gapped up by $14.53 today and has $210.34 target or 28.00% above today’s $164.33 share price. The 6 months technical chart setup indicates low risk for the $11.92B company. The gap was reported on Nov, 15 by Barchart.com. If the $210.34 price target is reached, the company will be worth $3.34B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 15.00% or $21.43 during the last trading session, hitting $164.33. About 7.22M shares traded hands or 574.77% up from the average. Advance Auto Parts, Inc. (NYSE:AAP) has declined 10.96% since April 13, 2016 and is downtrending. It has underperformed by 14.89% the S&P500.
Advance Auto Parts, Inc. (NYSE:AAP) Ratings Coverage
Out of 19 analysts covering Advance Auto Parts Inc. (NYSE:AAP), 10 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 53% are positive. Advance Auto Parts Inc. has been the topic of 35 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Argus Research given on Tuesday, August 18. UBS maintained the stock with “Buy” rating in Wednesday, August 5 report. The rating was maintained by Deutsche Bank on Friday, February 12 with “Buy”. RBC Capital Markets maintained Advance Auto Parts, Inc. (NYSE:AAP) rating on Friday, February 12. RBC Capital Markets has “Outperform” rating and $170 price target. UBS maintained Advance Auto Parts, Inc. (NYSE:AAP) on Friday, February 5 with “Buy” rating. The firm has “Buy” rating given on Monday, September 7 by Zacks. RBC Capital Markets maintained the shares of AAP in a report on Sunday, August 16 with “Buy” rating. As per Friday, August 14, the company rating was maintained by RBC Capital Markets. Wedbush maintained Advance Auto Parts, Inc. (NYSE:AAP) on Friday, February 12 with “Outperform” rating. The rating was maintained by BTIG Research on Wednesday, October 19 with “Sell”.
According to Zacks Investment Research, “Advance Auto Parts, Inc. is a specialty retailer of automotive parts, accessories and maintenance items to do-it-yourself customers.”
Insitutional Activity: The institutional sentiment increased to 1.06 in 2016 Q2. Its up 0.32, from 0.74 in 2016Q1. The ratio is positive, 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 Illinois-based Blair William And Il has invested 0% in Advance Auto Parts, Inc. (NYSE:AAP). Northern Corporation has invested 0.04% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Moreover, Cubist Systematic Strategies Limited Liability Corporation has 0.09% invested in Advance Auto Parts, Inc. (NYSE:AAP) for 10,054 shares. Jlb And has 8,126 shares for 0.37% of their US portfolio. Diversified Tru reported 1,850 shares or 0.03% of all its holdings. Round Table Ltd Liability Corp holds 2,805 shares or 0.26% of its portfolio. Dixon Hubard Feinour Brown Va last reported 5,243 shares in the company. The New York-based Marble Arch Invests Ltd Partnership has invested 6.3% in Advance Auto Parts, Inc. (NYSE:AAP). Mark Sheptoff Financial Planning Ltd, a Connecticut-based fund reported 9 shares. Navellier Assocs accumulated 1,243 shares or 0.03% of the stock. The Nebraska-based Ameritas Invest Ptnrs has invested 0.02% in Advance Auto Parts, Inc. (NYSE:AAP). Ledyard Bankshares last reported 0% of its portfolio in the stock. Prudential Finance Incorporated last reported 0.03% of its portfolio in the stock. Joel Isaacson Limited Liability Corp has invested 0.01% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Community Trust And Invest, a Kentucky-based fund reported 94,320 shares.
Insider Transactions: Since May 23, 2016, the stock had 11 insider buys, and 1 insider sale for $112.68 million net activity. Tyson Charles E had bought 633 shares worth $99,856. 633 Advance Auto Parts, Inc. (NYSE:AAP) shares with value of $99,767 were bought by BERGSTROM JOHN F. $15.29M worth of shares were bought by Smith Jeffrey C on Wednesday, June 1. Cushing Robert B bought 1,500 shares worth $234,990. Ferraro John Francis also bought $80,140 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Monday, August 22. On Tuesday, June 7 the insider Greco Thomas bought $1.01M. The insider Slone Reuben E bought $99,850.
More notable recent Advance Auto Parts, Inc. (NYSE:AAP) news were published by: Wsj.com which released: “Advance Auto Parts Logs Better-Than-Expected Same-Store Sales” on November 14, 2016, also Investorplace.com with their article: “3 Stocks to Watch on Tuesday: Advance Auto Parts, Inc. (AAP), Berkshire …” published on November 15, 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: Seekingalpha.com and their article: “Advance Auto Parts Needs Customer Enthusiasm” published on November 15, 2016 as well as Nasdaq.com‘s news article titled: “Mid-Day Market Update: Crude Oil Up Over 4%; Advance Auto Parts Shares Rise On …” with publication date: November 15, 2016.
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.
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