Advance Auto Parts Incorporated (NYSE:AAP) Shorted Shares Increased 4.83% After Market Selling

The stock of Advance Auto Parts Incorporated (NYSE:AAP) registered an increase of 4.83% in short interest. AAP’s total short interest was 4.32 million shares in March as published by FINRA. Its up 4.83% from 4.12M shares, reported previously. With 740,300 shares average volume, it will take short sellers 6 days to cover their AAP’s short positions. The short interest to Advance Auto Parts Incorporated’s float is 5.92%. The stock increased 0.45% or $0.73 on March 24, hitting $161.82. About 845,993 shares traded hands or 0.90% up from the average. Advance Auto Parts, Inc. (NYSE:AAP) has declined 13.85% since August 19, 2015 and is downtrending. It has underperformed by 11.75% the S&P500.

Advance Auto Parts, Inc. is a provider of automotive aftermarket parts. The company has a market cap of $11.92 billion. The company’s stores and branches offer a selection of brand name, original equipment maker 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 25.29 P/E ratio. The firm serves its do-it-for-me (commercial) clients and do-it-yourself (DIY) clients through a variety of channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites.

The institutional sentiment increased to 1.23 in 2015 Q3. Its up 0.46, from 0.77 in 2015Q2. The ratio improved, as 32 funds sold all Advance Auto Parts, Inc. shares owned while 167 reduced positions. 103 funds bought stakes while 142 increased positions. They now own 81.96 million shares or 14.11% more from 71.83 million shares in 2015Q2.

12Th Street Asset Management Company Llc holds 10.73% of its portfolio in Advance Auto Parts, Inc. for 154,422 shares. Standard Pacific Capital Llc Ca owns 43,215 shares or 8.19% of their US portfolio. Moreover, Starboard Value Lp has 7.23% invested in the company for 1.71 million shares. The New York-based Clearline Capital Lp has invested 6.83% in the stock. Scharf Investments Llc, a California-based fund reported 1.12 million shares.

Out of 15 analysts covering Advance Auto Parts Inc. (NYSE:AAP), 11 rate it “Buy”, 1 “Sell”, while 12 “Hold”. This means 46% are positive. $210 is the highest target while $150 is the lowest. The $170.87 average target is 15.63% above today’s ($161.82) stock price. Advance Auto Parts Inc. was the topic in 23 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the stock on February 12 with “Buy” rating.

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