Wedbush Reiterates Advance Auto Parts to Outperform with Price Target $185

Brokerage firm Wedbush Reiterates its rating on Advance Auto Parts(AAP). In a research note issued to the investors, the brokerage major Announces the price-target to $185 per share. The shares have been rated Outperform. The rating by the stock financial advisor at Wedbush was issued on Mar 15, 2017 in a research report to their Investors and Clients.

In a different note, Guggenheim said it Initiates Coverage On Advance Auto Parts, according to a research note issued on Jan 17, 2017. The shares have been rated ‘Neutral’ by the firm.

Advance Auto Parts (AAP) shares turned negative on Fridays trading session with the shares closing down -1.01 points or -0.66% at a volume of 11,35,226. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $153.25. The peak price level was also seen at $153.25 while the days lowest was $150.9. Finally the shares closed at $152.4. The 52-week high of the shares is $177.83 while the 52-week low is $132.98. According to the latest information available, the market cap of the company is $11,241 M.

Advance Auto Parts(AAP) last announced its earnings results on Feb 21, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $2.083B. Analysts had an estimated revenue of $2.000B. Earnings per share were $1. Analysts had estimated an EPS of $1.09.

Several Insider Transactions has been reported to the SEC. On Mar 14, 2017, Charles E Tyson (EVP, Merch, Mktg & Supply Chn) sold 18,944 shares at $153.92 per share price.Also, On Mar 7, 2017, Thomas Greco (CEO) purchased 6,500 shares at $154.29 per share price.On Sep 6, 2016, Jeffrey C Smith (director) purchased 70,000 shares at $158.76 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.

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