Oppenheimer analyst Brian Nagel maintained a Hold rating on Advance Auto Parts (AAP) today. The company’s shares opened today at $169.93.
Nagel wrote:
“We look optimistically toward the solid Q4 (Dec.) results and initial 2019 guidance that Advance Auto (AAP) posted today. Same store sales expansion of +3.4% in Q4 (Dec.) marked the third consecutive reading of positive comps for the chain. In our view, a long awaited turnaround at AAP is now beginning to take hold, particularly as macro pressures subside. We recently lowered our ratings on AutoZone (AZO) and O’Reilly (ORLY) to $365.46, respectively). While we continue to look very favorably toward the potential for a further strengthening in the backdrop for auto parts and services retail, we are concerned that, as the market turns more comfortable, any broad-based macro downturn remains a ways away, funds will gradually flow into shares of more cyclical operators.”
According to TipRanks.com, Nagel is a 5-star analyst with an average return of 7.1% and a 62.3% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Capri Holdings Limited, and Dick’s Sporting Goods.
Currently, the analyst consensus on Advance Auto Parts is a Moderate Buy with an average price target of $192.40, implying a 13.2% upside from current levels. In a report released today, Wells Fargo also maintained a Hold rating on the stock with a $175 price target.
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Advance Auto Parts’ market cap is currently $12.39B and has a P/E ratio of 22.72. The company has a Price to Book ratio of 3.39.
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Advance Auto Parts, Inc. engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
