Wells Fargo Keeps a Hold Rating on Advance Auto Parts (AAP)
In a report released today, Zachary Fadem from Wells Fargo maintained a Hold rating on Advance Auto Parts (AAP). The company’s shares closed last Monday at $75.03, close to its 52-week low of $73.74.
According to TipRanks.com, Fadem is a 3-star analyst with an average return of 0.1% and a 50.3% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings, Floor & Decor Holdings, and Michaels Companies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Advance Auto Parts with a $150.13 average price target, a 73.6% upside from current levels. In a report issued on March 19, Nomura also maintained a Hold rating on the stock with a $115.00 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 net profit of $95.91 million. In comparison, last year the company had a net profit of $53.44 million.
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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.