Advance Auto Parts (NYSE:AAP) Stock, Quote.Headers.trade-ideas

Advance Auto Parts

Advance Auto Parts is a leading auto parts retailer in North America with more than 5,000 store and branch locations. About 60% of the firm's sales are geared toward the professional channel, with the remaining 40% going to the do-it-yourself market. Through its vast store footprint and distribution network, Advance manages thousands of stock-keeping units conducive to various vehicle makes and models. The retailer primarily competes on the basis of inventory availability and service speed, making the operating efficiency of its hub and spoke distribution model critical to meeting customer needs.

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Shares of auto-related stocks are trading higher following the Fed's policy decision to cut rates by 50 basis points, which could stimulate spending and enhance credit affordability.

Advance Auto Parts's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) short percent of float has risen 27.09% since its last report. The company recently reported that it has 9.43 million shares sold short, which is 20.97% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.54 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Advance Auto Parts Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726499723_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Advance Auto Parts has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Advance Auto Parts's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Advance Auto Parts's peer group average for short interest as a percentage of float is 11.33%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Advance Auto Parts?

Wells Fargo analyst Zachary Fadem maintains Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) with a Equal-Weight and lowers the price target from $50 to $40.

Wells Fargo Maintains Equal-Weight on Advance Auto Parts, Lowers Price Target to $40

Throughout the last three months, 12 analysts have evaluated Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>), offering a diverse set of opinions from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">12</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Advance Auto Parts, revealing an average target of $56.17, a high estimate of $73.00, and a low estimate of $38.00. Highlighting a 12.23% decrease, the current average has fallen from the previous average price target of $64.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1726164056_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The analysis of recent analyst actions sheds light on the perception of Advance Auto Parts by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Bellinger</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$38.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>David Bellinger</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$45.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Christopher Horvers</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$43.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Michael Lasser</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$56.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Scott Ciccarelli</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$46.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$60.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Max Rakhlenko</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$55.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Christopher Horvers</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$55.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Seth Basham</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$68.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$70.00</td>
<td>$73.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$73.00</td>
<td>$72.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Advance Auto Parts. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Advance Auto Parts compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Advance Auto Parts's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Advance Auto Parts's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/AAP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Advance Auto Parts analyst ratings.</a>
<h2>About Advance Auto Parts</h2>
Advance Auto Parts is a leading auto parts retailer in North America with more than 5,000 store and branch locations. About 60% of the firm's sales are geared toward the professional channel, with the remaining 40% going to the do-it-yourself market. Through its vast store footprint and distribution network, Advance manages thousands of stock-keeping units conducive to various vehicle makes and models. The retailer primarily competes on the basis of inventory availability and service speed, making the operating efficiency of its hub and spoke distribution model critical to meeting customer needs.
<h3>Advance Auto Parts's Financial Performance</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Negative Revenue Trend: Examining Advance Auto Parts's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -0.11% in revenue growth, reflecting a decrease in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: Advance Auto Parts's net margin is impressive, surpassing industry averages. With a net margin of 1.68%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Advance Auto Parts's ROE excels beyond industry benchmarks, reaching 1.73%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Advance Auto Parts's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.37%, the company showcases efficient use of assets and strong financial health.
Debt Management: Advance Auto Parts's debt-to-equity ratio is below the industry average. With a ratio of 1.52, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>How Are Analyst Ratings Determined?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Advance Auto Parts Stock: A Deep Dive Into Analyst Perspectives (12 Ratings)

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Needham raised the price target for Docebo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCBO#NASDAQ">DCBO</a>) from $45 to $50. Needham analyst Ryan MacDonald maintained a Buy rating. Docebo shares fell 0.9% to close at $41.29 on Wednesday. <a href="https://www.benzinga.com/quote/DCBO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Ascendiant Capital increased the price target for RenovoRx, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNXT#NASDAQ">RNXT</a>) from $8 to $8.25.. Ascendiant Capital analyst Edward Woo maintained a Buy rating. RenovoRx shares rose 0.1% to close at $1.05 on Wednesday. <a href="https://www.benzinga.com/quote/rnxt/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. raised Instil Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIL#NASDAQ">TIL</a>) price target from $25 to $40. HC Wainwright &amp; Co. analyst Mitchell Kapoor maintained a Buy rating. Instil Bio shares gained 20.6% to close at $29.65 on Wednesday. <a href="https://www.benzinga.com/quote/til/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird cut Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) price target from $580 to $535. Baird analyst David Tarantino maintained an Outperform rating. Domino&#8217;s shares fell 2.1% to close at $407.97 on Wednesday. <a href="https://www.benzinga.com/quote/dpz/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler raised the price target for Exact Sciences Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>) from $75 to $85. Piper Sandler analyst David Westenberg maintained an Overweight rating. Exact Sciences shares gained 9.8% to close at $64.12 on Wednesday. <a href="https://www.benzinga.com/quote/exas/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Truist Securities boosted Aramark (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARMK#NYSE">ARMK</a>) price target from $37 to $42. Truist Securities analyst Jasper Bibb maintained a Buy rating. Aramark shares gained 0.5% to close at $37.99 on Wednesday. <a href="https://www.benzinga.com/quote/armk/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley increased TransUnion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRU#NYSE">TRU</a>) price target from $96 to $103. Morgan Stanley analyst Toni Kaplan maintained an Overweight rating. TransUnion shares rose 0.2% to close at $96.44 on Wednesday. <a href="https://www.benzinga.com/quote/tru/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho cut the price target for Advance Auto Parts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) from $45 to $38. Mizuho analyst David Bellinger maintained a Neutral rating. Advance Auto Parts shares rose 0.6% to close at $38.77 on Wednesday. <a href="https://www.benzinga.com/quote/aap/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho boosted American Tower Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>) price target from $205 to $221. Mizuho analyst Vikram Malhorta maintained a Neutral rating. American Tower shares fell 1.6% to close at $238.97 on Wednesday. <a href="https://www.benzinga.com/quote/amt/analyst-ratings">See how other analysts view this stock.</a></li>
<li>BTIG raised Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) price target from $98 to $104. BTIG analyst Ryan Zimmerman maintained a Buy rating. Alcon shares rose 0.1% to close at $98.22 on Wednesday. <a href="https://www.benzinga.com/quote/dpz/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
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Mizuho analyst David Bellinger maintains Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) with a Neutral and lowers the price target from $45 to $38.

Mizuho Maintains Neutral on Advance Auto Parts, Lowers Price Target to $38

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer was asked about Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>). He said, &#8220;You&#8217;re going to hold it&#8230; That company is <a href="https://www.benzinga.com/news/earnings/24/08/40527614/advance-auto-parts-analysts-slash-their-forecasts-after-downbeat-earnings">not a great operator.&#8221;</a>
On Aug. 22, the company reported quarterly earnings per share of 75 cents, missing the street view of $1.07. Quarterly sales of $2.683 billion beat the street view of $2.679 billion.
Cramer said &#8220;no to Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), yes to JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>).&#8221;
On July 30, Morgan Stanley analyst Betsy Graseck maintained Citigroup with an Overweight rating and raised the price target from $66 to $79.
When asked about IES Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IES#NASDAQ">IES</a>), he said, &#8220;I know the company, and it's the right spot.&#8221;
On Aug. 2, IES Holding reported a year-over-year increase in third-quarter financial results. Also, the company authorized a $200 million share repurchase program.
IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) is &#8220;doing quite well,&#8221; Cramer said. &#8220;Arvind Krishna [CEO of IBM] has really reinvented the company, he's doing a terrific job.&#8221;
On Sept. 9, IBM announced its intent to acquire Accelalpha, a global Oracle services provider.
&#8220;This is not the moment to own oil,&#8221; Cramer said, when asked about Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>).
WTI crude oil prices fell sharply on Tuesday as OPEC cuts its demand forecast.
Price Action:
<ul>
<li>Citigroup shares fell 2.7% to settle at $57.95 on Tuesday.</li>
<li>IES shares rose 2.4% to close at $148.46 during Tuesday's session.</li>
<li>IBM shares gained 0.9% to close at $205.32 during Tuesday's session.</li>
<li>Advance Auto Parts fell 0.5% to settle at $38.53 during the session.</li>
<li>Exxon Mobil shares fell 3.6% to close at $110.82 on Tuesday.</li>
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Photo: Shutterstock

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ORLY

Lawmakers Ask CEOs Of Six Auto Parts Firms To Answer If They Purchased Products From Chinese Firm That May Have Sought To Evade U.S. Tariffs

Financial giants have made a conspicuous bullish move on Advance Auto Parts. Our analysis of options history for Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $155,959, and 4 were calls, valued at $156,288.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $35.0 and $57.5 for Advance Auto Parts, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Advance Auto Parts's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Advance Auto Parts's whale trades within a strike price range from $35.0 to $57.5 in the last 30 days. 
<h3>Advance Auto Parts Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725557560_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AAP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$6.85</td>
<td>$6.65</td>
<td>$6.77</td>
<td>$37.50</td>
<td>$67.7K</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">201</td>
</tr>
<tr>
<td>AAP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$1.5</td>
<td>$1.46</td>
<td>$1.5</td>
<td>$41.00</td>
<td>$64.9K</td>
<td style="text-align: right;">66</td>
<td style="text-align: right;">657</td>
</tr>
<tr>
<td>AAP</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$8.45</td>
<td>$8.35</td>
<td>$8.4</td>
<td>$47.50</td>
<td>$37.8K</td>
<td style="text-align: right;">555</td>
<td style="text-align: right;">45</td>
</tr>
<tr>
<td>AAP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$4.85</td>
<td>$4.75</td>
<td>$4.82</td>
<td>$37.50</td>
<td>$33.7K</td>
<td style="text-align: right;">62</td>
<td style="text-align: right;">70</td>
</tr>
<tr>
<td>AAP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.5</td>
<td>$3.4</td>
<td>$3.4</td>
<td>$40.00</td>
<td>$28.2K</td>
<td style="text-align: right;">15</td>
<td style="text-align: right;">2</td>
</tr>
</tbody>
</table>

<h3>About Advance Auto Parts</h3>
Advance Auto Parts is a leading auto parts retailer in North America with more than 5,000 store and branch locations. About 60% of the firm's sales are geared toward the professional channel, with the remaining 40% going to the do-it-yourself market. Through its vast store footprint and distribution network, Advance manages thousands of stock-keeping units conducive to various vehicle makes and models. The retailer primarily competes on the basis of inventory availability and service speed, making the operating efficiency of its hub and spoke distribution model critical to meeting customer needs.
Following our analysis of the options activities associated with Advance Auto Parts, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Advance Auto Parts</h3>
<ul>
<li>Currently trading with a volume of 1,705,988, the AAP's price is down by -3.84%, now at $40.79. </li>
<li>RSI readings suggest the stock is currently may be oversold.</li>
<li>Anticipated earnings release is in 69 days.</li>
</ul>
<h3>Expert Opinions on Advance Auto Parts</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $56.4.
<ul>
<li>An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Advance Auto Parts, which currently sits at a price target of $60. </li>
<li>Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Advance Auto Parts with a target price of $46. </li>
<li>Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Advance Auto Parts with a target price of $55. </li>
<li>In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $65. </li>
<li>An analyst from UBS has decided to maintain their Neutral rating on Advance Auto Parts, which currently sits at a price target of $56. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Advance Auto Parts with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Looking At Advance Auto Parts's Recent Unusual Options Activity

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the<a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Red Robin Gourmet Burgers Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRGB#NASDAQ">RRGB</a>)</h3>
<ul>
<li>On Aug. 22, Red Robin Gourmet Burgers reported worse-than-expected second-quarter adjusted EPS results and lowered its FY24 revenue guidance below estimates.. The company's stock fell around 38% over the past month and has a <a href="https://www.benzinga.com/quote/RRGB">52-week low of $3.28</a>.</li>
<li>RSI Value: 28.02</li>
<li>RRGB Price Action: Shares of Red Robin fell 4.6% to close at $3.34 on Tuesday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to latest<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090424&amp;t=be2bearmibe3na1"> RRGB news. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="907" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084152/image-13.png" alt="" class="wp-image-529356" style="width:658px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084152/image-13.png 907w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084152/image-13-300x279.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084152/image-13-768x713.png 768w" sizes="(max-width: 907px) 100vw, 907px" /></a></figure>
<h3 class="wp-block-heading">Advance Auto Parts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>)&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Aug. 22, The company reported earnings per share of 75 cents, missing the street view of $1.07. Quarterly sales of $2.683 billion beat the street view of $2.679 billion. Revenues remained flat, while comparable store sales increased 0.4%. Advance Auto Parts has revised its FY24 outlook, lowering its earnings per share forecast to $2.00 – $2.50 from the previous range of $3.75 – $4.25, which contrasts with the $3.63 estimate. The company's stock fell around 26% over the past month. It <a href="https://www.benzinga.com/quote/AAP">has a 52-week low</a> of $43.70.</li>
<li>RSI Value: 21.42</li>
<li>AAP Price Action: Shares of Advance Auto Parts closed at $43.72 on Tuesday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090424&amp;t=be2bearmibe3na1">trend in AAP stock. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="913" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084242/image-1-6.png" alt="" class="wp-image-529357" style="width:635px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084242/image-1-6.png 913w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084242/image-1-6-300x275.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084242/image-1-6-768x704.png 768w" sizes="(max-width: 913px) 100vw, 913px" /></a></figure>
<h3 class="wp-block-heading">Designer Brands Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBI#NYSE">DBI</a>)</h3>
<ul>
<li>On June 4, Designer Brands reported worse-than-expected first-quarter earnings. The company reported first-quarter FY24 sales growth of 0.6% year-on-year to $746.596 million, beating the analyst consensus estimate of $741.630 million. The company's shares fell around 22% over the past five days and has a 52-week <a href="https://www.benzinga.com/quote/DBI">low of $5.99</a>.</li>
<li>RSI Value: 29.52</li>
<li>DBI Price Action: Shares of Designer Brands closed at $6.13 on Tuesday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090424&amp;t=be2bearmibe3na1">breakout in DBI shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="883" height="801" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084409/image-14.png" alt="" class="wp-image-529364" style="width:582px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084409/image-14.png 883w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084409/image-14-300x272.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04084409/image-14-768x697.png 768w" sizes="(max-width: 883px) 100vw, 883px" /></a></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/24/09/40700380/dollar-tree-dicks-sporting-goods-and-3-stocks-to-watch-heading-into-wednesday">Dollar Tree, Dick&#8217;s Sporting Goods And 3 Stocks To Watch Heading Into Wednesday</a></li>
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Investors with a lot of money to spend have taken a bullish stance on Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AAP, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 9 uncommon options trades for Advance Auto Parts.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $190,499, and 4 are calls, for a total amount of $204,618.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $42.5 to $60.0 for Advance Auto Parts during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Advance Auto Parts's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Advance Auto Parts's substantial trades, within a strike price spectrum from $42.5 to $60.0 over the preceding 30 days.
<h3>Advance Auto Parts Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724958132_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AAP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$8.0</td>
<td>$7.9</td>
<td>$7.9</td>
<td>$42.50</td>
<td>$106.6K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">136</td>
</tr>
<tr>
<td>AAP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$13.9</td>
<td>$13.8</td>
<td>$13.8</td>
<td>$60.00</td>
<td>$46.9K</td>
<td style="text-align: right;">366</td>
<td style="text-align: right;">34</td>
</tr>
<tr>
<td>AAP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$4.1</td>
<td>$4.05</td>
<td>$4.05</td>
<td>$45.00</td>
<td>$42.5K</td>
<td style="text-align: right;">165</td>
<td style="text-align: right;">96</td>
</tr>
<tr>
<td>AAP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$4.0</td>
<td>$3.95</td>
<td>$4.0</td>
<td>$45.00</td>
<td>$42.0K</td>
<td style="text-align: right;">165</td>
<td style="text-align: right;">274</td>
</tr>
<tr>
<td>AAP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.2</td>
<td>$3.15</td>
<td>$3.15</td>
<td>$52.50</td>
<td>$38.4K</td>
<td style="text-align: right;">386</td>
<td style="text-align: right;">134</td>
</tr>
</tbody>
</table>

<h3>About Advance Auto Parts</h3>
Advance Auto Parts is a leading auto parts retailer in North America with more than 5,000 store and branch locations. About 60% of the firm's sales are geared toward the professional channel, with the remaining 40% going to the do-it-yourself market. Through its vast store footprint and distribution network, Advance manages thousands of stock-keeping units conducive to various vehicle makes and models. The retailer primarily competes on the basis of inventory availability and service speed, making the operating efficiency of its hub and spoke distribution model critical to meeting customer needs.
Having examined the options trading patterns of Advance Auto Parts, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Advance Auto Parts's Current Market Status</h3>
<ul>
<li>With a trading volume of 1,770,140, the price of AAP is up by 0.19%, reaching $46.73.</li>
<li>Current RSI values indicate that the stock is may be oversold.</li>
<li>Next earnings report is scheduled for 76 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Advance Auto Parts</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $54.2.
<ul>
<li>Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Advance Auto Parts, targeting a price of $55. </li>
<li>Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Advance Auto Parts with a target price of $60. </li>
<li>An analyst from Truist Securities persists with their Hold rating on Advance Auto Parts, maintaining a target price of $46. </li>
<li>Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Advance Auto Parts with a target price of $45. </li>
<li>An analyst from Wedbush downgraded its action to Neutral with a price target of $65. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Advance Auto Parts, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Smart Money Is Betting Big In AAP Options

Whales with a lot of money to spend have taken a noticeably bullish stance on Advance Auto Parts.
Looking at options history for Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $143,143 and 3, calls, for a total amount of $80,336.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $42.5 and $55.0 for Advance Auto Parts, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Advance Auto Parts's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Advance Auto Parts's whale trades within a strike price range from $42.5 to $55.0 in the last 30 days. 
<h3>Advance Auto Parts 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724704238_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AAP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$5.3</td>
<td>$5.25</td>
<td>$5.3</td>
<td>$47.50</td>
<td>$36.0K</td>
<td style="text-align: right;">110</td>
<td style="text-align: right;">69</td>
</tr>
<tr>
<td>AAP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$6.1</td>
<td>$5.6</td>
<td>$6.0</td>
<td>$55.00</td>
<td>$29.4K</td>
<td style="text-align: right;">250</td>
<td style="text-align: right;">53</td>
</tr>
<tr>
<td>AAP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$6.0</td>
<td>$5.7</td>
<td>$5.88</td>
<td>$50.00</td>
<td>$28.2K</td>
<td style="text-align: right;">977</td>
<td style="text-align: right;">48</td>
</tr>
<tr>
<td>AAP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$10.0</td>
<td>$9.9</td>
<td>$9.9</td>
<td>$52.50</td>
<td>$26.7K</td>
<td style="text-align: right;">44</td>
<td style="text-align: right;">28</td>
</tr>
<tr>
<td>AAP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$5.4</td>
<td>$5.35</td>
<td>$5.35</td>
<td>$52.50</td>
<td>$26.2K</td>
<td style="text-align: right;">430</td>
<td style="text-align: right;">252</td>
</tr>
</tbody>
</table>

<h3>About Advance Auto Parts</h3>
Advance Auto Parts is a leading auto parts retailer in North America with over 5,000 store and branch locations. About 60% of the firm's sales are geared toward the professional channel, with the remaining 40% going to the do-it-yourself market. Through its vast store footprint and distribution network, Advance manages thousands of stock-keeping units conducive to various vehicle makes and models. The retailer primarily competes on the basis of inventory availability and service speed, making the operating efficiency of its hub and spoke distribution model critical to meeting customer needs.
In light of the recent options history for Advance Auto Parts, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Advance Auto Parts's Current Market Status</h3>
<ul>
<li>Trading volume stands at 3,383,561, with AAP's price down by -0.08%, positioned at $49.11.</li>
<li>RSI indicators show the stock to be may be oversold.</li>
<li>Earnings announcement expected in 79 days.</li>
</ul>
<h3>What Analysts Are Saying About Advance Auto Parts</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $54.2.
<ul>
<li>An analyst from JP Morgan persists with their Neutral rating on Advance Auto Parts, maintaining a target price of $55. </li>
<li>Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Advance Auto Parts, targeting a price of $46. </li>
<li>Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Advance Auto Parts, targeting a price of $60. </li>
<li>In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $65. </li>
<li>Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Advance Auto Parts with a target price of $45. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Advance Auto Parts options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Spotlight on Advance Auto Parts: Analyzing the Surge in Options Activity

Ratings for Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) were provided by 16 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">15</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $61.94, a high estimate of $73.00, and a low estimate of $45.00. Highlighting a 9.33% decrease, the current average has fallen from the previous average price target of $68.31. 
<img src="https://www.benzinga.com/files/images/story/2024/1724680847_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The analysis of recent analyst actions sheds light on the perception of Advance Auto Parts by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Bellinger</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$45.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Scott Ciccarelli</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$46.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$60.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Max Rakhlenko</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$55.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Christopher Horvers</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$55.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Seth Basham</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$68.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$70.00</td>
<td>$73.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$73.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>David Bellinger</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$64.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Steven Shemesh</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$65.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Elizabeth Suzuki</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Underperform</td>
<td>$55.00</td>
<td>$51.00</td>
</tr>
<tr>
<td>Michael Lasser</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$70.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$72.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Scott Ciccarelli</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$63.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Seth Basham</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$70.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Advance Auto Parts. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Advance Auto Parts compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Advance Auto Parts's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
To gain a panoramic view of Advance Auto Parts's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/AAP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Advance Auto Parts analyst ratings.</a>
<h2>About Advance Auto Parts</h2>
Advance Auto Parts is a leading auto parts retailer in North America with over 5,000 store and branch locations. About 60% of the firm's sales are geared toward the professional channel, with the remaining 40% going to the do-it-yourself market. Through its vast store footprint and distribution network, Advance manages thousands of stock-keeping units conducive to various vehicle makes and models. The retailer primarily competes on the basis of inventory availability and service speed, making the operating efficiency of its hub and spoke distribution model critical to meeting customer needs.
<h3>Advance Auto Parts: Delving into Financials</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, Advance Auto Parts faced challenges, resulting in a decline of approximately -0.11% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: Advance Auto Parts's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.68% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Advance Auto Parts's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.73% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Advance Auto Parts's ROA excels beyond industry benchmarks, reaching 0.37%. This signifies efficient management of assets and strong financial health.
Debt Management: Advance Auto Parts's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.52.
<h2>The Significance of Analyst Ratings Explained</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Advance Auto Parts Stock: A Deep Dive Into Analyst Perspectives (16 Ratings)

Mizuho analyst David Bellinger maintains Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) with a Neutral and lowers the price target from $64 to $45.

Mizuho Maintains Neutral on Advance Auto Parts, Lowers Price Target to $45

JP Morgan analyst Christopher Horvers reiterated the Neutral rating on Advance Auto Parts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>), <a target="_blank" href="https://www.benzinga.com/quote/AAP/analyst-ratings" rel="noreferrer noopener">lowering the price forecast to $43 from $55.</a>
Yesterday, the company faced a scorching sell-off, as a disappointing second-quarter earnings miss, a slashed FY24 outlook, and the announcement of its $1.5 billion&nbsp;<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">Worldpac sale shook investor confidence.</a>
Comparable sales accelerated in the quarter but have weakened quarter-to-date as weather-related boosts wane and low-income consumers remain under pressure, Horvers writes.
The analyst considers the Worldpac sale, the new management team&#8217;s initial medium-term margin target for the core business, and early turnaround efforts—such as completed management changes, the beginning of a supply chain strategy, and wage investments—as key milestones for future progress.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40504327/advance-auto-parts-q2-earnings-eps-miss-annual-outlook-cut-sells-worldpac-business" rel="noreferrer noopener">Advance Auto Parts Q2 Earnings: EPS Miss, Annual Outlook Cut, Sells Worldpac Business</a>
Despite progress, the core business&#8217; profitability remains under pressure and may take several years to fully improve, with store productivity being the major opportunity for boosting mid-single-digit operating margins, Horvers adds.
The analyst notes that since the CEO change last year, revitalizing a business amid a downturn has been challenging, as the industry declined further in the quarter despite easier comparisons.
The analyst&#8217;s Neutral rating is mainly due to auto parts retailers offering the best strategy in the current environment.
However, the company is losing market share, adjusting pricing to regain it, and forecasting an operating margin below 4% for 2024, compared to its previous long-term target of 11-13%.
Price Action: AAP shares are trading lower by 4.62% to $48.74 at last check Friday.
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Analyst Color

Equities

Reiteration

General

Advance Auto Parts Faces Profitability Pressure Despite Turnaround Efforts, Says JP Morgan Analyst

Truist Securities analyst Scott Ciccarelli maintains Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) with a Hold and lowers the price target from $63 to $46.

Truist Securities Maintains Hold on Advance Auto Parts, Lowers Price Target to $46

Advance Auto Parts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) reported weak second-quarter earnings and <a href="https://www.benzinga.com/news/earnings/24/08/40504327/advance-auto-parts-q2-earnings-eps-miss-annual-outlook-cut-sells-worldpac-business">slashed FY24 outlook on Thursday.</a>
The company reported earnings per share of 75 cents, missing the street view of $1.07. Quarterly sales of $2.683 billion beat the street view of $2.679 billion.
Advance Auto Parts revised its FY24 outlook, lowering its earnings per share forecast to $2.00 – $2.50 from the previous range of $3.75 – $4.25, which contrasts with the $3.63 estimate. Additionally, the company adjusted its sales projection to $11.15 billion – $11.25 billion, down from $11.30 billion – $11.50 billion, versus the $11.30 billion estimate.
In a separate press release, the company has confirmed a definitive agreement to sell Worldpac, Inc., its automotive parts wholesale distribution business, to funds managed by global investment firm The Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>) for $1.5 billion in cash.
Advance Auto Parts shares dipped 17.5% to close at $51.10 on Thursday.
These analysts made changes to their price targets on Advance Auto Parts following earnings announcement.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/602d4a555864de00015b98c5/max-rakhlenko">TD Cowen analyst Max Rakhlenko</a> maintained Advance Auto Parts with a Hold and lowered the price target from $65 to $55. 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="441" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091537/image-228-1024x441.png" alt="" class="wp-image-510917" style="width:583px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091537/image-228-1024x441.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091537/image-228-300x129.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091537/image-228-768x331.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091537/image-228-1536x662.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091537/image-228.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5a259df2efacff0001e43834/greg-melich">Evercore ISI Group analyst Greg Melich </a>maintained Advance Auto Parts with an In-Line and cut the price target from $64 to $60. 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="477" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091614/image-229-1024x477.png" alt="" class="wp-image-510922" style="width:620px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091614/image-229-1024x477.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091614/image-229-300x140.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091614/image-229-768x358.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091614/image-229-1536x715.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091614/image-229.png 1782w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Considering buying AAP stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="525" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091442/image-227-1024x525.png" alt="" class="wp-image-510915" style="width:591px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091442/image-227-1024x525.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091442/image-227-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091442/image-227-768x394.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23091442/image-227.png 1302w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Earnings

Advance Auto Parts Analysts Slash Their Forecasts After Downbeat Earnings

Evercore ISI Group analyst Greg Melich maintains Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) with a In-Line and lowers the price target from $64 to $60.

Evercore ISI Group Maintains In-Line on Advance Auto Parts, Lowers Price Target to $60

TD Cowen analyst Max Rakhlenko maintains Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) with a Hold and lowers the price target from $65 to $55.

TD Cowen Maintains Hold on Advance Auto Parts, Lowers Price Target to $55

Advance Auto Parts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) is facing a scorching sell-off, with shares plummeting in premarket trading, as a disappointing second-quarter earnings miss, a slashed FY24 outlook, and the announcement of its $1.5 billion <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">Worldpac sale shake investor confidence.</a>
The company reported earnings per share of 75 cents, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missing the street view of $1.07. </a>Quarterly sales of $2.683 billion <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40502870/advance-auto-parts-reports-second-quarter-2024-results" rel="noreferrer noopener">beat the street view of $2.679 billion.</a>
Revenues remained flat, while comparable store sales increased 0.4%. The company&#8217;s gross profit decreased by 2.3%, totaling $1.1 billion. The gross profit margin declined to 41.5% from 42.5% in the previous year&#8217;s second quarter. This drop was mainly due to strategic pricing investments and increased product costs.
Also Read: <a target="_blank" href="https://www.benzinga.com/top-stories/24/06/39235731/advance-auto-parts-probes-potential-cyber-incident-linked-to-snowflake" rel="noreferrer noopener">Advance Auto Parts Probes Potential Cyber Incident Linked To Snowflake</a>
The company&#8217;s operating income was $71.8 million, or 2.7% of net sales, compared with 4.7% in the second quarter of 2023.
On August 7, 2024, the company declared a regular cash dividend of $0.25 per share. This dividend will be paid on October 25 to all common stockholders of record as of October 11.
The company exited the quarter with cash and equivalents worth $479.418 million. Inventories, net totaled $4.903 billion at quarter-end. The company&#8217;s long-term debt at the quarter end stood at $1.787 billion.
Sale Of Worldpac: In a separate press release, the company has confirmed a definitive agreement to sell Worldpac, Inc., its automotive parts wholesale distribution business, to funds managed by global investment firm The Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40502736/advance-auto-parts-announces-sale-of-worldpac-to-carlyle-for-1-5-billion" rel="noreferrer noopener">for $1.5 billion in cash.</a>
The transaction is anticipated to be finalized by the end of the year. As of the end of the second quarter of 2024, the Worldpac business generated around $2.1 billion in revenue and approximately $100 million in EBITDA over the past twelve months. Advance Auto Parts anticipates net proceeds of about $1.2 billion after accounting for taxes and transaction fees.
Outlook Lowered: Advance Auto Parts has revised its FY24 outlook, lowering its earnings per share forecast to $2.00 &#8211; $2.50 from the previous range of $3.75 &#8211; $4.25, which contrasts with the $3.63 estimate.
Additionally, the company adjusted its sales projection to $11.15 billion &#8211; $11.25 billion, down from $11.30 billion &#8211; $11.50 billion, versus the $11.30 billion estimate.
Price Action: AAP shares are trading lower by 11.2% to $54.99 premarket at last check Thursday.
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In a report released today, Brian Nagel from Oppenheimer maintained a Hold rating on Advance Auto Parts (AAP – Research Report). The company's shar...

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Press Releases

ADVANCE AUTO INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Advance Auto Parts, Inc. - AAP

Real Estate

Baum Family Investments Embarks on Triple Net Lease Strategy with $250 Million Acquisition Goal

Advance Auto Parts Offers Race Fans Once-in-a-Lifetime Trip to Attend Indianapolis 500, Coca-Cola 600

Advance Auto Parts Announces Date for Its First Quarter 2024 Earnings Release and Conference Call

Enough is Enough! Advance Auto Parts Survey Reveals More Americans will Hit the Road this Summer Due to Air Travel Stress, Safety Concerns

Advance Auto Parts Reports First Quarter 2024 Results

Advance Auto Parts Announces Merchandising Leadership Changes; Names Bruce Starnes Executive Vice President, Chief Merchant

Advance Auto Parts Announces Date for Second Quarter 2024 Earnings Release and Conference Call

Advance Auto Parts Announces Sale of Worldpac to Carlyle for $1.5 Billion

Advance Auto Parts Reports Second Quarter 2024 Results

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