Smarter Analyst

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

In a report released yesterday, Matthew McClintock from Raymond James maintained a Hold rating on Advance Auto Parts (AAP). The company’s shares closed last Tuesday at $162.85, close to its 52-week high of $171.43.

According to TipRanks.com, McClintock is a 4-star analyst with an average return of 8.5% and a 59.8% success rate. McClintock covers the Consumer Goods sector, focusing on stocks such as Floor & Decor Holdings, Lululemon Athletica, and American Eagle.

Advance Auto Parts has an analyst consensus of Moderate Buy, with a price target consensus of $153.13, implying a -10.2% downside from current levels. In a report issued on August 14, D.A. Davidson also initiated coverage with a Hold rating on the stock with a $154.00 price target.

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Based on Advance Auto Parts’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.7 billion and net profit of $43.59 million. In comparison, last year the company earned revenue of $2.95 billion and had a net profit of $143 million.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is neutral on the stock.

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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 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.