Advance Auto Parts (AAP) is Reiterated by Wedbush to Outperform, Raises Price Target to $ 175

Advance Auto Parts (AAP) was Reiterated by Wedbush to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 175 from a previous price target of $160 . Wedbush advised their investors in a research report released on Aug 17, 2016.

Many Wall Street Analysts have commented on Advance Auto Parts. Company shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 180 from a previous price target of $160 .Shares were Reiterated by RBC Capital Mkts on May 20, 2016 to “Outperform” and Lowered the Price Target to $ 157 from a previous price target of $170 .

On the company’s financial health, Advance Auto Parts reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.21 based on the information available during the earnings call on Aug 16, 2016. Analyst had a consensus of $2.11. The company had revenue of $2256.20 million for the quarter, compared to analysts expectations of $2243.50 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.27 EPS.

Advance Auto Parts opened for trading at $166.75 and hit $169.9 on the upside on Monday, eventually ending the session at $167.76, with a gain of 1.06% or 1.76 points. The heightened volatility saw the trading volume jump to 18,54,564 shares. Company has a market cap of $12,340 M.

In a different news, on Jun 10, 2016, Jeffrey C Smith (director) purchased 397,624 shares at $155.06 per share price. According to the SEC, on Jun 9, 2016, Thomas Greco (CEO) purchased 6,700 shares at $150.82 per share price. On May 25, 2016, Charles E Tyson (EVP, Merch, Mktg & Supply Chn) sold 5,527 shares at $149.19 per share price, according to the Form-4 filing with the securities and exchange commission.

Advance Auto Parts Inc. is a provider of automotive aftermarket parts. The company’s stores and branches offer a selection of brand name original equipment manufacturer (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 company serves its do-it-for-me (commercial) customers and do-it-yourself (DIY) customers through a variety of channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites. As of January 3 2015 the Company’s operations are comprised of 5261 stores and 111 distribution branches which operate in the United States Canada Puerto Rico and the United States Virgin Islands primarily under the trade names Advance Auto Parts Carquest Autopart International and Worldpac.

Advance Auto Parts

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