After Reaching 52-Week High, Is Advance Auto Parts, Inc. (AAP)’s Near-Term Analysis Positive?

June 23, 2018 - By Kenneth Lin

Investors sentiment decreased to 1.1 in Q1 2018. Its down 0.03, from 1.13 in 2017Q4. It turned negative, as 39 investors sold Advance Auto Parts, Inc. shares while 119 reduced holdings. 59 funds opened positions while 115 raised stakes. 76.12 million shares or 4.10% more from 73.12 million shares in 2017Q4 were reported.
Loomis Sayles Ltd Partnership has 0.03% invested in Advance Auto Parts, Inc. (NYSE:AAP). Mackenzie Corp holds 0.12% or 409,781 shares in its portfolio. Sequent Asset Management Limited Company reported 5,295 shares or 0.47% of all its holdings. California Pub Employees Retirement Sys holds 217,722 shares. 40,971 are owned by Cambiar Invsts Lc. 852,657 were accumulated by Balyasny Asset Llc. Heartland Advsrs Incorporated holds 0.22% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 27,435 shares. New England Rech Mngmt invested 0.41% in Advance Auto Parts, Inc. (NYSE:AAP). Amer Int Grp Incorporated has invested 0.01% in Advance Auto Parts, Inc. (NYSE:AAP). Oregon Public Employees Retirement Fund has 0.01% invested in Advance Auto Parts, Inc. (NYSE:AAP) for 7,858 shares. Pennsylvania-based Orrstown Services has invested 0.01% in Advance Auto Parts, Inc. (NYSE:AAP). Bessemer Group Inc Inc holds 0.56% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 1.22 million shares. Tributary Cap Limited Liability Corporation holds 16,600 shares. Guardian Life Insurance Of America owns 170 shares. Sector Pension Invest Board, Quebec – Canada-based fund reported 4,176 shares.

Since February 23, 2018, it had 1 buying transaction, and 2 selling transactions for $757,901 activity. 1,745 shares valued at $202,560 were sold by Brouillard John C. on Friday, February 23. Greco Thomas had bought 8,640 shares worth $1.00 million on Wednesday, March 21.

The stock of Advance Auto Parts, Inc. (NYSE:AAP) hit a new 52-week high and has $148.57 target or 7.00 % above today’s $138.85 share price. The 9 months bullish chart indicates low risk for the $10.28B company. The 1-year high was reported on Jun, 23 by Barchart.com. If the $148.57 price target is reached, the company will be worth $719.53 million 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.

The stock decreased 0.47% or $0.65 during the last trading session, reaching $138.85. About 1.41M shares traded or 23.06% up from the average. Advance Auto Parts, Inc. (NYSE:AAP) has declined 5.35% since June 23, 2017 and is downtrending. It has underperformed by 17.92% the S&P500.

Analysts await Advance Auto Parts, Inc. (NYSE:AAP) to report earnings on August, 21. They expect $1.84 EPS, up 16.46 % or $0.26 from last year’s $1.58 per share. AAP’s profit will be $136.21 million for 18.87 P/E if the $1.84 EPS becomes a reality. After $2.10 actual EPS reported by Advance Auto Parts, Inc. for the previous quarter, Wall Street now forecasts -12.38 % negative EPS growth.

Advance Auto Parts, Inc. (NYSE:AAP) Ratings Coverage

Among 12 analysts covering Advance Auto Parts (NYSE:AAP), 8 have Buy rating, 0 Sell and 4 Hold. Therefore 67% are positive. Advance Auto Parts has $16000 highest and $108.0 lowest target. $134.50’s average target is -3.13% below currents $138.85 stock price. Advance Auto Parts had 19 analyst reports since January 10, 2018 according to SRatingsIntel. The firm earned “Equal-Weight” rating on Thursday, February 22 by Stephens. The stock of Advance Auto Parts, Inc. (NYSE:AAP) has “Buy” rating given on Tuesday, May 8 by Atlantic Securities. UBS maintained the stock with “Buy” rating in Friday, June 22 report. The firm has “Buy” rating given on Friday, April 20 by Credit Suisse. The firm earned “Hold” rating on Tuesday, January 16 by Stephens. Barclays Capital maintained the shares of AAP in report on Thursday, February 22 with “Equal-Weight” rating. Wells Fargo maintained Advance Auto Parts, Inc. (NYSE:AAP) on Tuesday, June 12 with “Market Perform” rating. The stock of Advance Auto Parts, Inc. (NYSE:AAP) earned “Buy” rating by Guggenheim on Monday, April 16. J.P. Morgan maintained Advance Auto Parts, Inc. (NYSE:AAP) rating on Friday, January 26. J.P. Morgan has “Buy” rating and $138.0 target. The firm earned “Hold” rating on Thursday, March 1 by Credit Suisse.

More news for Advance Auto Parts, Inc. (NYSE:AAP) were recently published by: Livetradingnews.com, which released: “Advance Auto Parts, Inc. (NYSE:AAP) Stock Worth Watching” on June 01, 2018. Seekingalpha.com‘s article titled: “Standard Motor Products Is Overvalued Now, But Is It A Watchlist Candidate?” and published on June 22, 2018 is yet another important article.

Advance Auto Parts, Inc. provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company has market cap of $10.28 billion. The firm offers batteries and battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wired, radiators and cooling parts, starters and alternators, and steering and alignment parts. It has a 20.42 P/E ratio. It also offers AC chemicals and accessories, air fresheners, antifreeze and washer fluids, electrical wires and fuses, electronics, hand and specialty tools, lighting products, performance parts, sealants, adhesives and compounds, tire repair accessories, vent shades, mirrors and exterior accessories, washes, waxes and cleaning supplies, and wiper blades, as well as floor mats, seat covers, and interior accessories.

Advance Auto Parts, Inc. (NYSE:AAP) Ratings Chart

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