Advance Auto Parts (AAP) Gets a Buy Rating from Raymond James


Raymond James analyst Bobby Griffin assigned a Buy rating to Advance Auto Parts (AAP) yesterday and set a price target of $215.00. The company’s shares closed last Wednesday at $191.33.

According to TipRanks.com, Griffin is a 5-star analyst with an average return of 36.5% and a 78.2% success rate. Griffin covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Bed Bath & Beyond, and Casey’s General.

Currently, the analyst consensus on Advance Auto Parts is a Strong Buy with an average price target of $222.38, a 13.6% upside from current levels. In a report issued on May 18, Credit Suisse also initiated coverage with a Buy rating on the stock with a $215.00 price target.

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Based on Advance Auto Parts’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.37 billion and net profit of $112 million. In comparison, last year the company earned revenue of $2.11 billion and had a net profit of $95.91 million.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AAP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Advance Auto Parts, Inc. engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.

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