Advance Auto Parts Sees Unusually High Options Volume (AAP)
Shares of Advance Auto Parts (NYSE:AAP) was the recipient of some unusual options trading activity on Thursday. Investors purchased 41,373 put options on the stock, AnalystRatings.NET reports. This is an increase of approximately 1,085% compared to the typical daily volume of 3,490 put options.
A number of analysts have recently weighed in on AAP shares. Analysts at Wedbush raised their price target on shares of Advance Auto Parts to $130.00 in a research note to investors on Friday, January 3rd. Separately, analysts at RBC Capital upgraded shares of Advance Auto Parts from an “outperform” rating to a “top pick” rating in a research note to investors on Friday, December 13th. They now have a $131.00 price target on the stock, up previously from $116.00. They noted that the move was a valuation call. Finally, analysts at Jefferies Group initiated coverage on shares of Advance Auto Parts in a research note to investors on Thursday, November 21st. They set an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $107.38.
Advance Auto Parts (NYSE:AAP) opened at 113.55 on Friday. Advance Auto Parts has a 52-week low of $71.48 and a 52-week high of $114.33. The stock has a 50-day moving average of $107.5 and a 200-day moving average of $91.07. The company has a market cap of $8.260 billion and a P/E ratio of 20.32.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, October 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.01. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts predict that Advance Auto Parts will post $5.44 earnings per share for the current fiscal year.
Advance Auto Parts, Inc (NYSE:AAP) is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items primarily operating within the United States.
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