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The market has been down on Advance Auto Parts, Inc. (AAP) stock recently. AAP gets a Bearish score from InvestorsObserver Stock Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What’s Happening With AAP Stock Today?
Advance Auto Parts, Inc. (AAP) stock is lower by -1.11% while the S&P 500 has risen 1.14% as of 1:38 PM on Friday, Oct 6. AAP is lower by -$0.59 from the previous closing price of $52.96 on volume of 735,408 shares. Over the past year the S&P 500 has risen 13.83% while AAP is lower by -68.76%. AAP earned $5.77 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 9.09.
More About Advance Auto Parts, Inc.
Advance Auto Parts is one of the industry’s largest retailers of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in North America. Advance operated 4,972 stores as of the end of 2021, in addition to servicing 1,317 independently owned Carquest stores. The company’s Worldpac unit is a premier distributor of imported original-equipment parts. Advance derived 58% of its 2021 sales from commercial clients, up from 30%-40% before the General Parts deal.
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