It makes sense and dollars to buy Advance Auto Parts Inc (AAP) stock

With 1.46 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.9 million shares. The 52-week range on AAP shows that it touched its highest point at $129.90 and its lowest point at $47.73 during that stretch. It currently has a 1-year price target of $65.89. With its current market cap of 5.07 billion, AAP has annualized dividend of $2.25 while the current yield stands at 2.64%. Beta for the stock currently stands at 1.19.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AAP was down-trending over the past week, with a drop of -1.57%, but this was up by 28.11% over a month. Three-month performance surged to 38.22% while six-month performance rose 55.22%. The stock lost -26.48% in the past year, while it has gained 39.42% so far this year. A look at the trailing 12-month EPS for AAP yields 0.74 with Next year EPS estimates of 4.45. For the next quarter, that number is 0.76. This implies an EPS growth rate of 667.22% for this year and 15.88% for next year.

Float and Shares Shorts:

At present, 59.51 million AAP shares are outstanding with a float of 58.88 million shares on hand for trading. On Mar 15, 2024, short shares totaled 5.19 million, which was 8.71% higher than short shares on Feb 15, 2024. In addition to AAPL as the firm’s Apple Inc., AAPU serves as its AAPU.

Institutional Ownership:

Through their ownership of 103.04% of AAP’s outstanding shares, institutional investors have majority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AAP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.