Advance Auto Parts Inc (NYSE: AAP) shares were down on Wednesday January 18 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile, in early trade today, the S&P 500 SPX, +0.00% was off 2 points, or 0.1%, at 2,265, shortly after open. The Nasdaq Composite COMP, +0.20% was flat at 5,537. The Dow Jones Industrial Average DJIA, -0.20% slipped 54 points or 0.3%, to 19,770.
Advance Auto Parts Inc (NYSE: AAP) had its price target increased by equities researchers at Deutsche Bank AG from $0.00 to $192.00. Deutsche Bank AG currently has a rating of on the shares. A number of other analysts have issued reports on the stock recently, and the company has secured a consensus one-year price target of $176.33, above the opening price of $173.01, a difference of 10.20 percent. Advance Auto Parts Inc stock has a 52-week high of $177.83.
Shares of Advance Auto Parts Inc (NYSE: AAP) opened at $173.01 yesterday and traded in a range between, $171.76 and $173.39, and last traded at $172.81, which is a dip of $0.19 from the previous closing price.
Advance Auto Parts Inc (NYSE: AAP) currently has a market cap of 12.73B.
Advance Auto Parts Inc (NYSE: AAP) Average Daily Trading Volume
The stock’s average daily volume is 1,087,500 shares out of a total float 73,129,000 and some 88,773 shares crossed the trading desk yesterday, 90 percent below normal. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Advance Auto Parts Inc (NYSE: AAP) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Advance Auto Parts Inc (NYSE: AAP) have ranged from $131.59 – 177.83, and the stock now has a 50-day MA of $172.11 and 200-day MA of $159.46. Today’s last price is 2.82%% lower than the 52 week high of $177.83.
Earnings growth is an important factor to research when investing in stocks and investors look for companies that have raised their earnings at least 25% or more over the past 3 years.
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