Advance Auto Parts (AAP) Received its Third Buy in a Row
After RBC Capital and UBS gave Advance Auto Parts (NYSE: AAP) a Buy rating last month, the company received another Buy, this time from Guggenheim. Analyst Ali Faghri maintained a Buy rating on Advance Auto Parts today and set a price target of $158.00. The company’s shares closed last Wednesday at $136.33.
Faghri has an average return of 15.5% when recommending Advance Auto Parts.
According to TipRanks.com, Faghri is ranked #623 out of 6589 analysts.
Currently, the analyst consensus on Advance Auto Parts is a Moderate Buy with an average price target of $143.64, implying a 3.9% upside from current levels. In a report issued on May 8, RBC Capital also maintained a Buy rating on the stock with a $136.00 price target.
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Advance Auto Parts’ market cap is currently $9.38B and has a P/E ratio of 19.20. The company has a Price to Book ratio of 4.90.
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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.