The stock of Advance Auto Parts, Inc. (NYSE:AAP) hit a new 52-week high and has $176.28 target or 3.00% above today’s $171.15 share price. The 5 months bullish chart indicates low risk for the $12.59B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $176.28 price target is reached, the company will be worth $377.70M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 485,056 shares traded hands. Advance Auto Parts, Inc. (NYSE:AAP) has risen 8.56% since April 25, 2016 and is uptrending. It has outperformed by 2.54% the S&P500.
Analysts await Advance Auto Parts, Inc. (NYSE:AAP) to report earnings on February, 9. They expect $1.08 earnings per share, down 11.48% or $0.14 from last year’s $1.22 per share. AAP’s profit will be $79.45 million for 39.62 P/E if the $1.08 EPS becomes a reality. After $1.73 actual earnings per share reported by Advance Auto Parts, Inc. for the previous quarter, Wall Street now forecasts -37.57% negative EPS growth.
Advance Auto Parts, Inc. (NYSE:AAP) Ratings Coverage
Out of 19 analysts covering Advance Auto Parts Inc. (NYSE:AAP), 12 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 63% are positive. $217 is the highest target while $120 is the lowest. The $178.61 average target is 4.36% above today’s ($171.15) stock price. Advance Auto Parts Inc. has been the topic of 38 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Sterne Agee CRT maintained it with “Buy” rating and $210 target price in Friday, August 14 report. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Positive” rating by Susquehanna on Tuesday, November 15. The rating was maintained by Wedbush with “Outperform” on Friday, February 12. The stock of Advance Auto Parts, Inc. (NYSE:AAP) has “Neutral” rating given on Friday, May 20 by Citigroup. The rating was initiated by Gabelli with “Hold” on Friday, April 15. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, September 8. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Strong Buy” rating by Raymond James on Tuesday, November 15. As per Thursday, May 5, the company rating was downgraded by Raymond James. The firm has “Buy” rating given on Tuesday, August 18 by Argus Research. The stock of Advance Auto Parts, Inc. (NYSE:AAP) has “Hold” rating given on Tuesday, September 15 by Jefferies.
According to Zacks Investment Research, “Advance Auto Parts, Inc. is a specialty retailer of automotive parts, accessories and maintenance items to do-it-yourself customers.”
Insitutional Activity: The institutional sentiment decreased to 1.02 in Q2 2016. Its down 0.04, from 1.06 in 2016Q1. The ratio fall, as 52 funds sold all Advance Auto Parts, Inc. shares owned while 147 reduced positions. 65 funds bought stakes while 145 increased positions. They now own 70.32 million shares or 3.62% less from 72.96 million shares in 2016Q1.
Macquarie Gru accumulated 15,525 shares or 0% of the stock. Hedeker Wealth Ltd Liability Co accumulated 3,141 shares or 0.44% of the stock. Manufacturers Life Insurance Com The owns 96,334 shares or 0.02% of their US portfolio. Crestwood Advisors Limited Liability holds 2.14% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 106,925 shares. National Pension Serv last reported 56,090 shares in the company. Utah Retirement System, a Utah-based fund reported 13,036 shares. Lazard Asset has 1.23% invested in the company for 3.31M shares. Rhumbline Advisers, a Massachusetts-based fund reported 121,710 shares. Causeway Capital Management Limited Liability last reported 2.6% of its portfolio in the stock. Pub Sector Pension Investment Board has invested 0.02% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP). Wells Fargo Mn last reported 0.02% of its portfolio in the stock. Parametric Port Ltd Co holds 0.03% or 121,419 shares in its portfolio. Stephens Inc Ar reported 3,250 shares or 0.02% of all its holdings. Advisory Ser Networks Limited Liability Company has 15 shares for 0% of their US portfolio. Parametric Risk Limited Liability Corp, a Connecticut-based fund reported 60,000 shares.
Insider Transactions: Since June 1, 2016, the stock had 9 insider buys, and 0 selling transactions for $75.30 million net activity. 633 shares were bought by Tyson Charles E, worth $99,856 on Monday, August 29. The insider Slone Reuben E bought 632 shares worth $99,850. Smith Jeffrey C bought $61.57M worth of Advance Auto Parts, Inc. (NYSE:AAP) on Wednesday, June 8. 633 shares were bought by BERGSTROM JOHN F, worth $99,767 on Friday, August 19. $1.01M worth of shares were bought by Greco Thomas on Tuesday, June 7. On Tuesday, August 30 the insider Cushing Robert B bought $234,990. Shares for $80,140 were bought by Ferraro John Francis on Monday, August 22.
More notable recent Advance Auto Parts, Inc. (NYSE:AAP) news were published by: Wsj.com which released: “Advance Auto Parts Logs Better-Than-Expected Same-Store Sales” on November 14, 2016, also Marketwatch.com with their article: “Advance Auto Parts shares up 8% after earnings” published on November 14, 2016, Seekingalpha.com published: “Advance Auto Parts Needs Customer Enthusiasm” on November 15, 2016. More interesting news about Advance Auto Parts, Inc. (NYSE:AAP) were released by: Nasdaq.com and their article: “Mid-Day Market Update: Crude Oil Up Over 4%; Advance Auto Parts Shares Rise On …” published on November 15, 2016 as well as Businesswire.com‘s news article titled: “Advance Auto Parts Reports Third Quarter Fiscal 2016 Results” with publication date: November 14, 2016.
AAP Company Profile
Advance Auto Parts, Inc., incorporated on August 1, 2001, provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. The Company’s stores and branches offer a selection of brand name, original equipment maker (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks. The Firm serves its commercial clients and DIY clients through various channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites. The Firm operates approximately 5,170 total stores and over 120 branches, which operate in the United States, Canada, Puerto Rico and the United States Virgin Islands under the names Advance Auto Parts, Autopart International (AI), Carquest and Worldpac. The Company’s Advance Auto Parts activities consist of approximately five geographic areas, which include the activities of the stores operating under the Advance Auto Parts, Carquest and AI names.
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