Jefferies Sticks to Its Hold Rating for Advance Auto Parts

By Carrie Williams

Jefferies analyst Bret Jordan reiterated a Hold rating on Advance Auto Parts (NYSE: AAP) on June 26 and set a price target of $150. The company’s shares closed yesterday at $121.96, close to its 52-week high of $177.83.

According to TipRanks.com, Jordan is a 4-star analyst with an average return of 7.0% and a 62.1% success rate. Jordan covers the Services sector, focusing on stocks such as Pep Boys-Manny Moe & Jack, Kar Auction Services Inc, and Genuine Parts Company.

Advance Auto Parts has an analyst consensus of Moderate Buy, with a price target consensus of $147.43.

Based on Advance Auto Parts’ latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $2.89 billion and quarterly net profit of $108 million. In comparison, last year the company earned revenue of $2.98 billion and had a net profit of $158 million.

Based on the recent corporate insider activity of 87 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.