Credit Suisse Believes AAP Still Has Room to Grow

By Carrie Williams

In a report issued on November 21, Seth Sigman from Credit Suisse maintained a Buy rating on Advance Auto Parts (NYSE: AAP), with a price target of $171. The company’s shares opened today at $170.26, close to its 52-week high of $172.87.

According to TipRanks.com, Sigman is a 3-star analyst with an average return of 1.7% and a 55.4% success rate. Sigman covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, Dick’s Sporting Goods, and Container Store Group.

Currently, the analyst consensus on Advance Auto Parts is Moderate Buy and the average price target is $164.17, representing a -3.6% downside.

In a report issued on November 15, Raymond James also upgraded the stock to Buy.

The company has a one year high of $172.87 and a one year low of $131.59. Currently, Advance Auto Parts has an average volume of 1.17M.

Based on the recent corporate insider activity of 144 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AAP in relation to earlier this year.

Advance Auto Parts, Inc. operates as a retailer of automotive aftermarket parts, accessories, batteries and maintenance items. Its stores carry an extensive product line for cars, vans; sport utility vehicles and light trucks. The company was founded by Arthur Taubman in 1929 and is headquartered in Roanoke, VA.